LIC Eyeing Double-Digit Growth for FY25

Life Insurance Corporation of India (LIC), The Indian multinational public sector life insurance company is India’s largest insurance company as well as the largest institutional investor with total assets under management worth Rs.52.52 trillion as of March 2024. It is under the ownership of the Government of India and administrative control of the Ministry of Finance. The Insurance company posted above estimates numbers yesterday and it now aims to grow in double digits for FY25.

LIC Q4 Highlights

LIC in this quarter has reported a net profit of Rs.13,762 crores in this quarter as compared to Rs.13,421 crores in Q4 FY 2022-23. The asset quality has improved in this quarter with Gnpa dropping to 2.01% from 2.56% in Q4 FY 2022-23.

LIC Targets to grow in double digits in FY25

Life Insurance Corporation (LIC) of India is setting its sights on achieving double-digit growth for the fiscal year 2024-25, according to Chairperson Siddhartha Mohanty, speaking at a post-results conference call on May 27, Mohanty has said that the company’s focus for the upcoming year will be on improving topline numbers. he also stated. “We are aiming for double-digit growth in FY25.” This ambitious goal reflects LIC’s commitment to expanding its market presence and enhancing its financial performance. 

Conclusion: Life Insurance Corporation (LIC) of India is setting its sights on achieving double-digit growth for the fiscal year 2024-25, according to Chairperson Siddhartha Mohanty. Speaking at a post-results conference call on May 27, Mohanty emphasized the company’s strategic focus for the upcoming year. The company is targeting double-digit growth in FY25. Notably, the company has also posted numbers above market estimates, further solidifying its robust financial health and capacity for growth. The stock of LIC currently trades at Rs.1,032 a piece.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.