LIC Shares Surge After Q1 Results AUM Hits ₹53.59 Lakh Crore, PAT Up 10%

Life Insurance Corporation (LIC) is expected to experience heightened interest in its shares due to its remarkable Q1FY25 outcomes. Assets Under Management (AUM) for LIC surged to ₹53.59 lakh crore as on June 30, a strong 16.22% increase from ₹46.11 lakh crore in the same quarter the previous year.

LIC Shares Surge After Q1 Results AUM Hits

The state-owned insurance behemoth LIC announced a strong 10% increase in net profit on Thursday after market hours, at ₹10,461 crore for the June 2024 quarter. The overall premium income of the corporation had a noteworthy rise as well, rising 16% annually to ₹1.14 lakh crore.

LIC’s Q1FY25 Performance’s Main Points:

• Initial Year Premium Increase: Over the same period last year, the first-year premium increased to ₹7,470 crore from ₹6,811 crore.
• Renewal Premiums: LIC’s renewal premium income increased to ₹56,429 crore from ₹53,638 crore in the previous year.
• Investment Income: From April to June of the previous fiscal year, net income from investments increased to ₹96,183 crore from ₹90,309 crore.
• Equity Market Investments: In the most recent fiscal year, LIC made ₹1.32 lakh crore in equity market investments. The investment was ₹38,000 crore in Q1FY25 alone, a significant rise over ₹23,300 crore in the corresponding period of the previous year.
• New Business Value (VNB): To ₹1,610 crore, VNB increased by 23.66%, and the net VNB margin increased to 13.9% from 13.7% in the corresponding quarter last year back then.
• Solvency Margin: Due to the company’s sound financial standing, LIC’s solvency margin grew to 1.99% from 1.89% a year earlier.
• Quality of Asset: Over the same period last year, the gross non-performing assets (NPA) ratio eased to 1.95% from 2.48%.

Activities within Bangladesh: LIC Shares Surge After Q1 Results AUM Hits

Siddhartha Mohanty, the CEO and Managing Director of LIC, provided an update on the company’s efforts in Bangladesh, indicating that as of August 8, 2024, the branch has partially started operations. Nonetheless, the circumstances in Bangladesh are still difficult and could keep having an effect on operations. LIC is keeping a careful eye on things and updating the Department of Financial Services.

LIC Shared Achievement:

LIC shares have increased by almost 74% in the last year, outpacing the Nifty50’s 22% gain.

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ccount opning link:

1. Groww Account- https://app.groww.in/v3cO/kyrp1zph
2. Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906