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• Life Insurance Corporation of India (LIC) reported a net profit of INR 23,420 crore in the March quarter of FY26, making it the most profitable entity in India’s financial sector.
• The state-owned insurer also retained its position as the highest profit-making Central Public Sector Enterprise (CPSE) during the fourth quarter.
• It was followed by State Bank of India (INR 19,684 crore) and HDFC Bank (INR 19,221 crore) in quarterly profitability.
• LIC’s Assets Under Management rose to INR 57,29,396 crore as of March 2026, reflecting steady growth across its portfolio.
State-owned Life Insurance Corporation of India (LIC) emerged as the highest profit-making entity in India’s financial sector in the March quarter of FY26, reporting a net profit of INR 23,420 crore, according to financial results disclosed on stock exchanges. Advertisement
The insurer also retained its position as the leading Central Public Sector Enterprise (CPSE) in terms of quarterly profitability, maintaining its dominance among state-owned firms in the fourth quarter.
LIC’s net profit for the quarter ended March 2026 rose 23 per cent compared with INR 19,013 crore recorded in the corresponding period of the previous year. The performance placed it ahead of major private and public sector lenders, reinforcing its scale within the domestic financial system.
State Bank of India followed with a net profit of INR 19,684 crore, while HDFC Bank reported INR 19,221 crore for the same quarter. Among other CPSEs, Indian Oil Corporation posted a profit of INR 11,378 crore, Coal India recorded INR 10,839 crore, Power Finance Corporation reported INR 8,598 crore and NTPC posted INR 8,747 crore.
Power Grid Corporation of India reported a net profit of INR 4,546 crore, REC Ltd recorded INR 3,375 crore, while Steel Authority of India Ltd posted INR 1,680 crore during the quarter, reflecting a mixed performance across public sector enterprises.
Despite LIC leading in quarterly profitability, State Bank of India surpassed it in full-year earnings, reporting a net profit of INR 80,032 crore for FY26 compared with LIC’s INR 57,419 crore. HDFC Bank registered a full-year profit of INR 74,670 crore, while ICICI Bank reported INR 50,147 crore, underscoring the strong annual performance of large private sector lenders.
Following the announcement of LIC’s quarterly results, its shares rose by around 5 per cent in early trade on the BSE on May 23, touching INR 839 per share, reflecting positive investor sentiment.
LIC’s Assets Under Management (AUM) stood at INR 57,29,396 crore as of March 31, 2026, up from INR 54,52,297 crore a year earlier, marking a 5 per cent year-on-year increase. During the same period, the insurer’s adjusted net worth improved significantly to INR 1,69,605 crore from INR 1,20,258 crore in FY25, indicating a strengthening balance sheet position.
However, a discrepancy was noted in reported figures for LIC’s total premium income, which was stated as INR 54,52,297 crore, the same as its earlier AUM figure, suggesting a potential reporting overlap in exchange filings.
Across the broader corporate sector, Vodafone Idea emerged as the highest quarterly profit maker in the January–March period with a record net profit of INR 51,970 crore, its first profit in around six years, driven largely by relief in statutory liabilities. It was followed by Reliance Industries, which posted a net profit of INR 16,971 crore, lower than INR 19,407 crore in the corresponding quarter of the previous year.
Source PTI
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