LIC becomes India's most profitable public sector company
What's the story
The Life Insurance Corporation of India (LIC) has become the most profitable public sector company in India for the March 2026 quarter. The insurance giant posted a net profit of ₹23,420 crore, a whopping 23% increase from last year. This puts LIC ahead of major players like State Bank of India (SBI) and HDFC Bank for the quarter.
Financial performance
Surge in LIC's assets and premium income
Along with the profit jump, LIC also saw a 5% increase in its assets to ₹57.29 lakh crore. The company's premium income also grew by 10%, while its net worth now stands at ₹169,605 crore. Following the announcement of these results, LIC shares witnessed a 5% surge on May 23, reaching ₹839 apiece on the Bombay Stock Exchange (BSE).
Annual ranking
Ranking of top 5 companies by annual profit
For the full fiscal year, SBI retained its top position with an annual profit of ₹80,032 crore. LIC came in second with a net profit of ₹57,419 crore for the entire financial year. HDFC Bank and ICICI Bank were also among the top earners with profits of ₹74,670 crore and ₹50,147 crore, respectively.