New Delhi, Aug 8 (PTI) Shares of insurance behemoth LIC on Friday ended 3 per cent higher after the firm reported a 5 per cent rise in profit during the June quarter and exuded confidence of a double-digit growth in bottomline in the current financial year.
The stock ended at ₹912.55, up 3.06 per cent, on the BSE. During the day, it climbed 4.69 per cent to ₹927.
At the NSE, shares of the firm went up 2.91 per cent to settle at ₹910.80 after jumping 4.75 per cent to ₹927.10 in intra-day trade.
In traded volume terms, 3.36 lakh shares of the firm were traded on the BSE and 45.32 lakh shares on the NSE during the day.
Life Insurance Corporation of India (LIC) on Thursday reported a 5 per cent rise in net profit to ₹10,987 crore for the first quarter and exuded confidence of a double-digit growth in bottomline in FY26.
The LIC had reported a net profit of ₹10,461 crore in the first quarter of 2024-25.
The total income increased to ₹2,22,864 crore during the latest June quarter, as against ₹2,10,910 crore in the year-ago period, LIC said in a regulatory filing.
“We are looking at enhancing profitability. We would be reaching a respectable level and expect double-digit growth in profits during the current financial year,” newly-appointed LIC CEO & MD R Doraiswamy said.
During the last financial year, the insurer earned a profit of ₹48,151 crore, compared to ₹40,676 crore in the previous fiscal year, registering an 18 per cent growth.
In the June quarter, the first-year premium rose to ₹7,525 crore, compared to ₹7,470 crore in the same period last year, it said.
