LIC Q3 results: Net profit surges over 16% to ₹11,009 crore, premium income down 9%

However, its net premium income fell 8.65% YoY to ₹1.07 lakh crore in contrast to ₹1.17 lakh crore it had reported in the third quarter of the 2023-24 financial year (Q3 FY24).

The company’s solvency ratio rose to 2.02% in the December quarter of FY25 versus 1.93% in Q3 FY24.

What LIC’s CEO had to say

“Our focus and strategy remain consistent towards changing our product and channel mix to serve the needs of our customers, in a dynamic environment. For the nine months period ended December 31st, 2024, the Non-Par share within the individual business increased to 27.68%, on an APE basis, as compared to 14.04% for the same period last year. Further, the VNB margin has also improved to 17.1% for the nine months period ended December 31st, 2024, as compared to 16.6% for the same period last year,” Shri Siddhartha Mohanty, LIC’s CEO & MD said.

“LIC continues to be committed to serving society through higher insurance coverage in the country. LIC’s Bima Sakhi Yojana, for the empowerment of women by offering them a career in insurance sales as an agent, was launched by the Hon’ble Prime Minister on 9th December 2024. Till date, more than 1.25 lakh women have been registered and more than 70,000 have been appointed as Bima Sakhis,” Mohanty added.

“In the coming months, the outcomes of our digital transformation initiatives will be visible. We remain thankful to all our stakeholders for their support as we adapt, reimagine and realign our business to a fast-changing industry scenario,” he commented.

Stock performance

Shares of LIC closed in the red at ₹811, down 2.15% on the National Stock Exchange (NSE). However, the insurer announced its Q3 FY25 result after market hours.

The scrip lost 3.39% over the past five days and 7.46% in the last month. The stock slipped 27.82% over the last six months and 9.53% on a year-to-date basis.

The state-owned life insurer had a market capitalisation of ₹5.13 lakh crore as of February 7, 2025, on the NSE.