LIC Records Highest Profit in Indian Financial Sector for March Quarter

Life Insurance Corporation of India has achieved the highest profit in the Indian financial sector for the March quarter. The company reported a significant jump in net profit. State Bank of India and HDFC Bank followed with substantial profits. LIC's assets under management and premium income also saw growth. Vodafone Idea recorded a record quarterly profit due to statutory relief.

New Delhi: State-owned Life Insurance Corporation of India (LIC) has emerged as the highest profit-making firm in the Indian financial sector in the March quarter, netting a little over Rs 23,400 crore.

Even among Central Public Sector Enterprises, the Corporation maintained the number one position for fourth-quarter profit for FY26.

Last week, LIC reported a 23 per cent jump in net profit to record Rs 23,420 crore in the just concluded March quarter as compared to Rs 19,013 crore in the corresponding period of the previous year.

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The insurance behemoth was followed by the country's biggest lender State Bank of India (SBI), and the second-biggest lender HDFC Bank with profit of Rs 19,684 crore and Rs Rs 19,221 crore, respectively, during the fourth quarter, according to the financial numbers posted on exchanges.

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However, SBI significantly outpaced LIC in annual profit, earning Rs 80,032 crore in FY26 compared to LIC's Rs 57,419 crore.

Similarly, HDFC Bank's profit stood at Rs 74,670 crore while ICICI Bank posted a profit of Rs 50,147 crore.

Among other PSUs, Indian Oil Corporation (IOC) closed the fourth quarter with a net profit of Rs 11,378 crore followed by Coal India at Rs 10,839 crore, Power Finance Corporation (PFC) earned Rs 8,598 crore and NTPC Rs 8,747 crore as profit, as per the data available on stock exchanges.

Other Central Public Sector Enterprises (CPSEs) like Power Grid Corporation of India posted a profit of Rs 4,546 crore, REC Ltd net profit at Rs 3,375 crore, and Steel Authority of India Ltd at Rs 1,680 crore.

A day after the stellar performance of LIC, its shares jumped 5 per cent in opening trade at Rs 839 apiece on the BSE on May 23.

LIC's Assets Under Management (AUM) increased to Rs 57,29,396 crore as of March 31, 2026, from Rs 54,52,297 crore on March 31, 2025, registering an increase of 5 per cent year-on-year.

During the year, LIC's total premium income rose by 10 per cent to Rs 54,52,297 crore compared to Rs 54,52,297 crore a year ago. At the same time, adjusted net worth improved to Rs 1,69,605 crore from Rs 1,20,258 crore in FY25.

Among the entire corporate sector. Vodafone Idea became the highest quarterly profit earner in the January-March quarter with a record bottomline of Rs 51,970 crore, its first ever in about six years mainly due to relief in statutory liabilities.

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It was followed by Reliance Industries with a net profit of Rs 16,971 crore, down from Rs 19,407 crore in the same January-March period in the preceding year.