IPO-bound LIC's FY21 profit picture not so pretty compared to size

FY21 profit of Rs 4,579 cr would make it 34th most profitable listed firm

The Life Insurance Corporation (LIC) will be the country’s largest company in terms of revenue and assets when it lists on the stock exchanges, but it will count as a mid-size company in terms of profit and net worth.

The insurance behemoth reported revenues of around Rs 7.04 trillion in FY21, nearly 40 per cent more than those of Reliance Industries Ltd (RIL), which topped the charts in the listed space with Rs 5.05 trillion last financial year, while LIC’s assets, at Rs 37.46 trillion, were nearly three times those of RIL.

However, LIC reported consolidated net profit or surplus of Rs