New Delhi, May 28 – Shares of Life Insurance Corporation of India (LIC) soared over 8% on Wednesday after the state-run insurance giant reported a 38% jump in net profit for the March 2025 quarter.

On the BSE, LIC shares closed 8.21% higher at Rs 942.55, hitting an intraday high of Rs 948 with an 8.83% gain. On the NSE, the stock rose 7.97% to settle at Rs 940.75.

As per agency report, the surge in share price led to an increase of Rs 45,223.74 crore in LIC’s market capitalisation, which now stands at Rs 5,96,162.66 crore.

In its regulatory filing on Tuesday, LIC announced that its net profit rose to Rs 19,013 crore in the quarter ended March 2025, up from Rs 13,763 crore a year earlier, primarily due to reduced expenses.

However, the company's total income for the quarter fell to Rs 2,41,625 crore from Rs 2,50,923 crore in the corresponding quarter of FY 2023-24.

The strong profit growth despite a decline in total income indicates improved operational efficiency, bolstering investor confidence and fueling the stock rally.