LIC earned a profit of Rs 15,500 crore from its investments in equity markets during the first quarter. The profit from its investment was higher by 13.5 % quarter-on-quarter.
"We are surely looking at the markets and price movements...we are looking to invest a good amount at least whatever we had invested in last financial year...LIC invested around Rs 1.32 lakh crore in FY'24," he said.
The
LIC has exposure in 282 companies through investment in their shares as of June 30, 2024.
The
Total investment grew by Rs 7,30,662 crore, from Rs 42,44,852 crore in March 2023 to Rs 49,75,514 crore as of March 31, 2024. The total equity investment portfolio constitutes Rs 12,39,740 crore as against Rs 8,39,662 crore in 2022-23, whereas other investments constitute Rs 37,35,774 crore as against Rs 34,05,190 crore in 2022-23.
For the June quarter 2024, LIC reported a 10% increase in net profit to Rs 10,461 crore as against Rs 9,544 crore in the year-ago period. Total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period.
Total premium income for the quarter increased 16 % to Rs 1,13,770 crore as compared to Rs 98,363 crore in the same quarter a year ago.