"LIC's shares jumped 3% to Rs 1,159 on August 9, following the release of its impressive Q1FY25 results, which showed a 9% year-on-year increase in net profit and a 16% rise in net premium income, marking a strong start to the fiscal year."

In Q1FY25, LIC's new business premium saw a significant 13.6% year-on-year increase, reaching Rs 11,892 crore, while the annual premium equivalent (APE) surged 21% to Rs 11,560 crore, indicating robust growth in the company's premium collection.

In the quarter ending June, group business APE increased by 34% to Rs 4,813 crore, and the non-par APE share within individual business grew to 24% from 10.22% a year ago. The value of new business rose by 24% year-on-year in Q1FY25, and the VNB margin improved by 20 basis points year-on-year to 14%.

During the quarter, 35 lakh policies were sold in the individual segment, up from 32 lakh in the same period last year. However, policies sold through the BANCA and alternative channels decreased by 11% year-on-year to 55,795 in Q1FY25.