State-owned Life Insurance Corporation of India has emerged as the highest profit making company among PSUs in March quarter FY25, netting a little over Rs 19,000 crore.
Last week, LIC reported 38% jump in net profit for January-March FY25 at record Rs 19,013 crore as compared to Rs 13,763 crore in the corresponding quarter in the previous year.
The insurance behemoth was followed by the country's biggest lender State Bank of India with Rs 18,643 crore profit during the fourth quarter.
However, SBI was ahead of LIC in terms of annual profit as it earned Rs 70,901 crore in FY25 as against Rs 48,151 crore of LIC.
Among other PSUs, Coal India earned a net profit of Rs 9,604 crore in the quarter followed by Power Finance Corporation Ltd. earning Rs 8,358 crore and NTPC Rs 7,897 crore, as per the data available on stock exchanges.
In the oil sector, Indian Oil Corporation Ltd. closed the fourth quarter with a net profit of Rs 7,265 crore followed by exploration giant ONGC at Rs 6,448 crore.
Other Central Public Sector Enterprises like REC Ltd. posted a net profit of Rs 4,304 crore, Power Grid Corporation of India ( Rs 4,143 crore) and Steel Authority of India Ltd (Rs 1,251 crore).
A day after the stellar performance of LIC, its shares jumped 8 per cent to settle at Rs 942.55 apiece on the BSE on May 28. During the day, it jumped 8.83% to Rs 948.
The company's market valuation climbed Rs 45,223.74 crore to Rs 5,96,162.66 crore.
LIC's Assets Under Management increased to Rs 54,52,297 crore as of March 31, 2025, as compared to Rs 51,21,887 crore on March 31, 2024, registering an increase of 6.45 per cent year-on-year.
During the quarter, LIC's income from renewal premiums rose to Rs 79,138 crore compared to Rs 77,368 crore a year ago.
At the same time, expenses of management came down to Rs 16,495 crore from Rs 24,709 crore in the same period a year ago.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
