LIC September-quarter profit rises to Rs 12,114.78 crore

Life Insurance Corporation of India reported consolidated profit after tax of Rs 12,114.78 crore for the three months ended September 30, 2026, up from Rs 10,098.48 crore a year earlier, while gross premium income rose to Rs 1,47,627.12 crore from Rs 1,27,087.26 crore. The Board approved the unaudited results on November 5, 2026.

How much did LIC’s September-quarter profit increase?

LIC’s consolidated profit after tax increased by Rs 2,016.30 crore year on year to Rs 12,114.78 crore in the three months ended September 30, 2026, from Rs 10,098.48 crore in the corresponding 2025 quarter. This was an increase of about 20%, based on the reported consolidated figures.

Consolidated profit before tax, exceptional and extraordinary items rose to Rs 12,174.56 crore from Rs 10,201.68 crore. LIC reported the same Rs 12,174.56 crore figure for profit before tax after exceptional and extraordinary items in the September 2026 quarter, indicating no difference between those two reported pre-tax lines.

The difference between consolidated pre-tax profit and profit after tax was Rs 59.78 crore in the September 2026 quarter, compared with Rs 103.20 crore a year earlier. LIC also reported basic and diluted earnings per share of Rs 9.58 for the three-month period, compared with Rs 7.98 in the year-earlier quarter.

What happened to LIC’s premium income in the quarter?

LIC’s consolidated gross premium income rose by Rs 20,539.86 crore to Rs 1,47,627.12 crore in the three months ended September 30, 2026. The comparable September 2025 quarter recorded gross premium income of Rs 1,27,087.26 crore.

The filing defines premium income as gross of reinsurance and net of Goods and Services Tax, or GST. Its newspaper-results extract does not provide a split by product category, distribution channel, new business, renewal premium or policyholder segment, so the disclosed figures do not identify the drivers of the Rs 20,539.86 crore increase.

For the six months ended September 30, 2026, consolidated gross premium income was Rs 2,75,423.26 crore, compared with Rs 2,46,841.13 crore in the corresponding six months of 2025. The six-month increase was Rs 28,582.13 crore, while consolidated profit after tax rose by Rs 4,643.50 crore to Rs 25,699.03 crore from Rs 21,055.53 crore.

LIC’s September 2026 half-year premium income represented more than half of the Rs 5,38,378.50 crore consolidated gross premium income reported for the year ended March 31, 2026. The filing does not provide a premium-income target or forecast for the remaining six months of the financial year.

How did LIC’s standalone results compare with consolidated results?

LIC’s standalone profit after tax was Rs 12,076.02 crore in the September 2026 quarter, Rs 38.76 crore below consolidated profit after tax of Rs 12,114.78 crore. Standalone gross premium income was Rs 1,47,209.79 crore, compared with consolidated gross premium income of Rs 1,47,627.12 crore, a difference of Rs 417.33 crore.

Standalone profit after tax increased from Rs 10,053.39 crore in the three months ended September 30, 2025. Standalone profit before tax rose to Rs 12,125.82 crore from Rs 10,146.97 crore, and standalone gross premium income increased from Rs 1,26,634.14 crore.

For the six months ended September 30, 2026, standalone profit after tax was Rs 25,568.05 crore and consolidated profit after tax was Rs 25,699.03 crore. The Rs 130.98 crore half-year difference was larger than the Rs 38.76 crore gap in the September quarter, but LIC did not explain the consolidation adjustments in the disclosed extract.

What do LIC’s half-year and annual comparisons show?

LIC’s consolidated profit after tax for the six months ended September 30, 2026 was Rs 25,699.03 crore, compared with Rs 21,055.53 crore in the prior-year period. Consolidated profit before tax rose to Rs 25,860.95 crore from Rs 21,187.45 crore over the same comparison.

Six-month basic and diluted earnings per share were Rs 20.32, compared with Rs 16.64 for the six months ended September 30, 2025. LIC stated that both the quarterly and half-year earnings-per-share figures were not annualised, and that the equity shares had a face value of Rs 10 each.

Paid-up equity share capital stood at Rs 12,650 crore on September 30, 2026, compared with Rs 6,325 crore on September 30, 2025 and March 31, 2026. The extract does not explain the reported change in paid-up equity share capital.

Reserves excluding revaluation reserve were Rs 1,77,986.21 crore at September 30, 2026, compared with Rs 1,71,230.89 crore at March 31, 2026. LIC reported consolidated profit after tax of Rs 57,453.15 crore for the audited year ended March 31, 2026, against the Rs 25,699.03 crore reported for the first half of the current financial year.

What accounting basis did LIC use for the results?

LIC prepared its September 30, 2026 financial results under Indian generally accepted accounting principles, or Indian GAAP, and Schedule II of the Insurance Regulatory and Development Authority of India, or IRDAI, regulations issued in 2024. The quarter and half-year figures were reviewed, while the March 31, 2026 annual figures were audited.

IRDAI’s 2026 amendment regulations require insurers to prepare financial statements under applicable Indian Accounting Standards, or Ind AS, from April 1, 2026. LIC said it obtained forbearance from IRDAI to defer Ind AS adoption by one year and therefore used Indian GAAP for the September 2026 quarter and half year.

The disclosed extract does not include an Ind AS reconciliation or quantify how the deferred transition could affect profit, premium income, reserves or equity. LIC’s Board approved the unaudited standalone and consolidated results at its November 5, 2026 meeting, before their publication on November 6, 2026.

Conclusion

LIC reported higher consolidated premium income and profit for the September 2026 quarter and first half. Gross premium income rose to Rs 1,47,627.12 crore in the quarter, while profit after tax reached Rs 12,114.78 crore; standalone profit of Rs 12,076.02 crore was close to the consolidated total.

The next disclosed matter to watch is LIC’s adoption of Ind AS after its one-year regulatory forbearance. The filing does not state a more specific transition timetable or a quantified impact, leaving the eventual accounting presentation of profit, premiums, reserves and equity unresolved.