LIC's Q2 profit jumps 31% to ₹10,098 crore
LIC just posted a big win: its Q2 consolidated profit soared 31% to ₹10,098 crore, up from ₹7,728 crore last year.
This boost came from higher premium income and lower commission costs.
Total income hits ₹2.39 lakh crore
Total income for the quarter hit ₹2.39 lakh crore, supported by a jump in renewal premiums.
First-year premiums dropped a bit—even with new GST perks kicking in this September—but overall assets under management still grew to ₹57.23 lakh crore.
Management says they're prioritizing profitability
LIC improved its solvency ratio and cut down on bad loans and expenses—basically running things leaner than before.
The company is focusing more on high-margin products instead of just chasing volume, even though its overall market share dipped below 60%.
Management says they're prioritizing profitability over just being the biggest player.