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