LIC Q2 results: PAT rises multi-fold to ₹15,952 cr, net premium income up 27%


State-run insurance giant Life Insurance Corporation (LIC) on Friday said its September quarter consolidated net profit after tax (PAT) surged multi-fold to 15,952 crore from 1,434 crore in the corresponding quarter of the last fiscal year.

In the April to June quarter, the insurer had reported a net profit of 682.9 crore.

LIC’s net premium income improved to 1.32 lakh crore in the reporting quarter, up 27% from 1.04 lakh crore in the year-ago period.

The first-year premium, an indication of business growth, was at 9124.7 crore, up 11% for the quarter compared with 8198.30 crore a year ago.

The renewal premium rose 2% to 56,156 crore while single premium soared 62% to 66,901 crore.

Ahead of the announcement of the result, LIC stock ended 1.17% higher at 628.05 on BSE.

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