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LIC reports Rs 9444 crore profit this quarter and becomes 5th most valued company in India


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LIC December Q3 2023-2024 Results: According to a regulatory filing, Life Insurance Corporation (LIC), the state-owned insurer, reported a significant 49% increase in net profit for the third quarter ending December 2023. The net profit reached ₹9,444 crore, compared to ₹6,334 crore in the corresponding period the previous year. Along with this, LIC has become the 5th most valuable company in India. Now the country’s most valued firms include Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, and LIC.

Increase in Net Premium Income and Total Income

LIC’s net premium income for Q3 of the current fiscal rose to ₹1,17,017 crore, up from ₹1,11,788 crore a year ago. Additionally, LIC’s total income saw a substantial increase to ₹2,12,447 crore in the latest December quarter, compared to ₹1,96,891 crore in the year-ago period.

LIC’s Market Valuation and Position Among Valued Companies

Before the announcement of the results, LIC’s shares surged over 6%, propelling its market valuation to ₹6.99 lakh crore. This secured LIC’s position as the fifth most valued company in India. The country’s most valued firms include Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, and LIC.

LIC’s Position as the Most Valued PSU Firm

Last month, LIC surpassed the State Bank of India to become the country’s most-valued PSU (Public Sector Undertaking) firm by market valuation.

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