LIC Stock Climbs After Reporting Robust Q1 Earnings and Positive FY25 Outlook
LIC reports strong Q1 earnings with ₹10,987 crore net profit; shares surge to ₹927 amid confident outlook.
LIC Reports 5% Net Profit Rise in Q1; Shares Rally to Rs 927 on BSE
Shares of Life Insurance Corporation of India (LIC) surged nearly 5% on Friday following the release of its first-quarter earnings report, reflecting investor optimism on the company’s growth prospects. The stock closed at ₹927 on the Bombay Stock Exchange (BSE), up 4.69%, and similarly gained 4.75% to ₹927.10 on the National Stock Exchange (NSE).
LIC posted a 5% rise in net profit for Q1 of the financial year 2024-25, reaching ₹10,987 crore, up from ₹10,461 crore in the same quarter last year. Total income rose to ₹2,22,864 crore from ₹2,10,910 crore year-on-year, signalling steady business expansion.
The company’s newly appointed CEO & MD, R Doraiswamy, expressed confidence in achieving double-digit profit growth for the current financial year. "We are focused on enhancing profitability and expect to reach a respectable level by year-end," he said.
Last fiscal, LIC recorded a profit of ₹48,151 crore, marking an 18% growth over the previous year’s ₹40,676 crore.
In addition, LIC’s first-year premium collection edged up to ₹7,525 crore in Q1 2024-25 from ₹7,470 crore in Q1 of the previous fiscal, underscoring steady demand for its insurance products.
The upbeat earnings and positive outlook have driven market enthusiasm, positioning LIC as a strong player with growth momentum in the insurance sector.
