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LIC records 145% jump in profit on sale of equities

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LIC, Employees, Salary Hike

MUMBAI:  With the equity markets on a roll, Life Insurance Corporation of India (LIC) has raked in a whopping 145 per cent jump in profit on sale of equities in the first quarter of the current financial year.

India’s largest life insurer made a net profit of Rs. 6,100 crore in the April-June 2017 quarter against Rs.2,489 crore in the year-ago period, according to Chairman VK Sharma.

“We are seeing double-digit growth in business (premiums),” said Sharma.

Sunita Sharma, Managing Director, said the Corporation had invested about Rs. 16,000 crore in equities in the reporting quarter. “The equity investment was much less in the year-ago period,” she said.

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