The country's largest insurance company LIC's consolidated net profit for the third quarter of the financial year 2024-25 increased by 16% year-on-year (YoY) to ₹11,009 crore. In the same quarter a year ago, the company had clocked a profit of ₹9,469 crore. Life Insurance Corporation of India (LIC) released the third quarter results on February 07. The company's net premium income decreased by 9% YoY. In Q3 FY25, the net premium income was ₹1.07 lakh crore. In the same quarter a year ago, ie, Q3 FY24, the net premium income was at ₹1.17 lakh crore. LIC share price performance LIC still trades below IPO price band: Its been almost three years, since, the largest insurance company of the country had brought its IPO back in 2022. But the stock still trades below IPO price band of ₹902-₹949 per share. LIC established by merger of 245 companies in 1956
On September 1, 1956, the government nationalised total of 245 companies to establish Life Insurance Corporation of India, or LIC. In 1956, LIC had 5 zonal offices, 33 divisional offices, 212 branch offices, and one corporate office. What is Standalone and Consolidated? Companies' results are published in two parts – Standalone and Consolidated. Standalone shows the financial performance of only one segment or unit. Whereas, in the Consolidated financial report, the result of the entire company is provided. LIC has 6 associate companies: Additionally, there are two subsidiary companies, LIC Pension Fund Limited and LIC Card Services Limited. The financial reports of all these combined are called consolidated. While, LIC's separate results will be considered as standalone.Original Article