LIC Reports Record Profit, Leading Indian Financial Sector in March Quarter
LIC emerges as highest profit-making financial company in March quarter
Image: The Economic Times
The Life Insurance Corporation of India (LIC) has reported a record net profit of ₹23,420 crore (approximately $2.83 billion USD) for the March quarter, making it the highest profit-making firm in the Indian financial sector. Despite this, State Bank of India (SBI) led in annual profits for FY26 with ₹80,032 crore (around $9.66 billion USD).
- 01LIC's net profit rose by 23% compared to ₹19,013 crore in the same quarter last year.
- 02State Bank of India (SBI) reported an annual profit of ₹80,032 crore for FY26, significantly higher than LIC's annual profit of ₹57,419 crore.
- 03HDFC Bank's profit for the same period was ₹19,221 crore, while ICICI Bank reported ₹50,147 crore.
- 04LIC's Assets Under Management (AUM) increased to ₹57,29,396 crore as of March 31, 2026.
- 05Vodafone Idea achieved a record quarterly profit of ₹51,970 crore, the highest in the corporate sector for the January-March quarter.
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The Life Insurance Corporation of India (LIC) has emerged as the leading profit-making financial institution in India for the March quarter, achieving a net profit of ₹23,420 crore (approximately $2.83 billion USD), marking a 23% increase from ₹19,013 crore in the same quarter last year. This performance positions LIC at the top among Central Public Sector Enterprises for the fourth quarter of FY26. Following LIC, the State Bank of India (SBI) reported a profit of ₹19,684 crore, while HDFC Bank recorded a profit of ₹19,221 crore. However, SBI outperformed LIC in annual profits, with a total of ₹80,032 crore for FY26, compared to LIC's ₹57,419 crore. Additionally, LIC's Assets Under Management rose to ₹57,29,396 crore as of March 31, 2026, reflecting a 5% year-on-year increase. The corporation's total premium income also increased by 10% to ₹54,52,297 crore. Meanwhile, Vodafone Idea reported a record quarterly profit of ₹51,970 crore, the highest in the corporate sector for the January-March quarter, attributed to a reduction in statutory liabilities.
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LIC's strong profit performance enhances its financial stability, which can positively affect policyholders and investors, leading to increased trust in the insurance sector.
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