LIC Shares Surge 3% Following Strong Profit Report
LIC's shares rose by 3% after reporting a 5% increase in profit for the June quarter. The company's net profit reached Rs 10,987 crore, signaling confidence in continued double-digit growth throughout FY26. Total income also increased, with expectations to enhance profitability further, according to CEO R Doraiswamy.
- Country:
- India
Shares of LIC rose by 3% on Friday, closing at Rs 912.55 on the BSE, after the insurance giant announced a 5% growth in profit for the June quarter. The firm anticipates a double-digit bottom-line surge in the current fiscal year.
During the trading session, LIC's stock soared by 4.69% to Rs 927 on the BSE. Similarly, on the NSE, shares increased by 2.91% to Rs 910.80, peaking at Rs 927.10 intra-day. The trading volume exceeded 3.36 lakh shares on the BSE and 45.32 lakh shares on the NSE.
LIC's recent regulatory filing revealed a net profit of Rs 10,987 crore, a rise from Rs 10,461 crore in the previous year's first quarter. Total income grew to Rs 2,22,864 crore compared to the previous year's Rs 2,10,910 crore. R Doraiswamy, LIC's CEO, expressed optimism about reaching double-digit profit growth this fiscal year.
(With inputs from agencies.)
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