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Life Insurance Corporation of India (LIC) on Thursday posted a 23 per cent increase in net profit to Rs 13,492 crore in the first quarter of the ongoing financial year. The country's biggest insurer had earned a profit of Rs 10,987 crore in the corresponding quarter a year earlier. The total income of the insurer during the reporting quarter improved to Rs 2,37,848 crore from Rs 2,22,864 crore in the same period of the preceding fiscal year, LIC said in a regulatory filing. LIC's income from first-year premium also improved to Rs 9,217 crore in the latest June quarter against Rs 7,525 crore in the same period of the preceding fiscal year. Income from renewal premiums in the reporting period increased to Rs 61,833 crore compared to Rs 59,885 crore a year ago. As regards single premium, the Corporation collected Rs 56,369 crore as compared to Rs 51,923 crore in the first quarter of the previous financial year. Thus, net premium income rose to Rs 1,27,250 crore in the quarter under
Institutional investors subscribed 66.10 per cent of the shares reserved for them in the LIC Offer-for-Sale (OFS) till noon on Tuesday. The government is offering over 28.46 crore shares in Life Insurance Corporation (LIC) to institutional buyers at a floor price of Rs 382 a piece. Institutional investors put in bids for over 18.81 crore shares, or 66.10 per cent of the shares reserved for them at an indicative price of Rs 382.07/share. Bidding will continue till 3:30 PM. Retail investors would be able to put bids on Wednesday. The government is selling up to 6.5 per cent stake or over 82.22 crore in country's largest insurer LIC at a floor price of Rs 382/share. Shares of LIC slid 7.03 per cent over Monday's close to Rs 394.50 on the BSE in afternoon trade. Its market capitalisation stands at over Rs 4.98 lakh crore. The issue comprises a base offer size of over 31.62 crore or 2.5 per cent of total capital, with a green shoe option of 50.60 crore shares or 4 per cent of the tota
Life Insurance Corporation of India (LIC) on Thursday posted a 23 per cent increase in net profit to Rs 23,420 crore in the March quarter. The country's biggest insurer had earned a profit of Rs 19,013 crore in the corresponding quarter a year earlier. The total income of the insurer during the reporting quarter rose to Rs 2,53,592 crore from Rs 2,22,805 crore in the same period of the preceding fiscal year, LIC said in a regulatory filing. LIC's income from first-year premium also improved to Rs 12,970 crore in the latest January-March quarter against Rs 11,069 crore in the same period of the preceding fiscal year. Income from renewal premiums in the reporting period increased to Rs 81,933 crore compared to Rs 79,138 crore a year ago. During the entire financial year ended March 2026, the insurer earned a profit of Rs 57,419 crore as compared to Rs 48,151 crore in the previous fiscal year, registering a growth of 19 per cent. Total income during the financial year rose to Rs 9,7