LIC Q1 profit jumps multi-fold to Rs 682.89 cr

MUMBAI: Life Insurance Corporation of India on Friday reported a multi-fold jump in its June quarter net profit at Rs 682.89 cr.

The state-run life insurance behemoth, which went public recently, had a net profit of Rs 2.94 cr in the year-ago period.

The first-year premium for the reporting quarter came at Rs 7,429 cr as against Rs 5,088 cr in the year-ago period, it said in an exchange filing.

The total income came at Rs 1,68,881 cr for the June quarter as against Rs 1,54,153 cr in the year-ago period, it said. When compared with the preceding March quarter, the performance was down across parameters, the filings showed.

The net profit had come at Rs 2,371 crore, first year premium stood at Rs 14,614 crore and total income stood at Rs 2,11,451 crore in the March quarter. LIC shares closed 0.03 pc down at Rs 682.15 apiece on the BSE on Friday .