LIC Posts Robust 32% Profit Surge in September Quarter
LIC, the state-owned insurer, reported a 32% rise in net profit to Rs 10,053 crore for the second quarter ending on September 30. The total income for the period was Rs 2,39,614 crore with net premiums rising to Rs 1,26,479 crore. Expenses increased to Rs 2,30,160 crore.
- Country:
- India
State-owned insurance giant, LIC, has announced a significant 32% increase in net profit, amounting to Rs 10,053 crore, for the fiscal second quarter ending September 30.
This surge aligns with a recovery from the Rs 7,621 crore net profit reported in the same quarter last year.
LIC's total income for the quarter saw an increase, reaching Rs 2,39,614 crore compared to Rs 2,29,620 crore reported a year prior. The insurer's net premium income also grew substantially to Rs 1,26,479 crore, while total expenses rose to Rs 2,30,160 crore from Rs 2,22,366 crore during the same period last year.
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