LIC on Thursday reported a net profit of Rs 10,053 crore for the quarter ended September 30, beating analysts’ expectations by a wide margin.
The state-run life insurance behemoth’s quarterly net profit grew 31.9 per cent over the corresponding period a year ago.
According to Zee Business research, LIC was estimated to register a net profit of Rs 8,100 crore for the second quarter of the current financial year.
Earlier on Thursday, LIC shares ended 1.2 per cent lower at Rs 895.5 apiece on BSE in a Mumbai market that weakened for a second straight trading session.
At the current level, the LIC stock has nearly flat for the year, underperforming a 7.4 per cent rise in the Nifty50 benchmark.
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