India’s biggest insurance company, LIC, has just announced some wonderful news. During the fourth quarter, between January and March, their profit is up by a whopping 38%. That is a tremendous leap for a company that was already so deeply trusted by crores. LIC has registered ₹19,013 crore as net profit for this quarter, whereas a year ago it was ₹13,763 crore. The growth is a reflection of how well-established their business is despite the arrival of changing times and increased competition.
Q4 Net Profit rises to ₹19,013 Crore
So why the surge in profits? Well, although their total income declined slightly from ₹2.50 lakh crore to ₹2.41 lakh crore, LIC managed to cut down some expenditures and focus more on renewals. New policy income declined, naturally, but renewal premiums went up by a margin, which balanced it out. Their net profit said it all, bringing the investors and policyholders up short.
Dividend Declared, to be Authorized in AGM
And some more positive news, LIC has decided to reward its shareholders by announcing a ₹12 final dividend per share for March 2025. But wait, there’s more. The dividend hasn’t yet been approved in the upcoming AGM. However, it is a step in the right direction, especially for long-term shareholders who have weathered the tempest. On Tuesday, LIC’s share price slightly increased and closed at ₹871.05, a small but welcome note.
LIC Breaks Guinness Record for Most Policies Sold in a Day
And last but not the least, the icing on the cake. LIC has achieved something that no other company has earned itself a Guinness World Record. In a single day on January 20, 4.5 lakh LIC agents from across India sold over 5.8 lakh life insurance policies. That is not statistics; that is faith in action. It reflects how rooted LIC’s feet are in Indian families.
Yes, all is not good. Their fresh business revenue fell. But take a step back and view the bigger picture, consolidated profit growth, loyal policyholders, decent dividend payout, and a world record to boast of LIC is doing all right. And believe me, in this current volatile market, that kind of stability is misplaced and something to hold on to.
