Life Insurance Corporation of India (LIC), India’s largest insurance company, has reported a standalone net profit at Rs 9,543.71 crore for the quarter ended June as against a profit of Rs 682.88 crore in the corresponding quarter of last year, a rise of 1,297 per cent.
However, the net premium income of LIC was almost flat at Rs 98,362.75 crore as compared to Rs 98,351.76 crore in the same period of last year. However, sequentially, the net profit declined 29 percent from Rs 13,428 crore reported in the March quarter. The net premium income dipped 25 percent quarter-on-quarter.
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