Life Insurance Corporation of India (LIC) on Friday reported a multifold jump in its June quarter net profit at ₹682.89 crore.

The state-run life insurance behemoth, which went public recently, had a net profit of ₹2.94 crore in the year-ago period.

Premium up

The first-year premium for the quarter came at₹7,429 crore as against ₹5,088 crore in the year-ago period, it said in an exchange filing after its board meeting.

The total income came at ₹1,68,881 crore for the June quarter as against ₹1,54,153 crore in the year-ago period, it said.

When compared with the preceding March quarter, the performance was down across parameters, the filings showed.

The net profit had come at ₹2,371 crore, first year premium stood at ₹14,614 crore and total income stood at ₹2,11,451 crore in the March quarter.

LIC shares closed 0.03 per cent down to ₹682.15 apiece on the BSE on Friday.

social-fb COMMENT NOW