(PTI) Shares of LIC jumped over 9 per cent on Monday morning after the firm reported a multi-fold jump in net income at ₹15,952 crore in the quarter ended September 30.
The stock rallied 8.70 per cent to ₹682.70 on the BSE.
At the NSE, it climbed 9.11 per cent to ₹684.90.
A 27 per cent jump in premium income and massive gains from changes in its accounting policy along with investment income helped the national insurer LIC on Friday report a multi-fold jump in net income at ₹15,952 crore in the July-September quarter, from ₹1,434 crore a year-ago.
More than 40 per cent of the net income came in from profit from investments which reached ₹6,798.61 crore, but down from the year-ago period when it had booked ₹6,961.14 crore.
The bottom-line was also boosted by gains from changes in its accounting policy, the nation's financial powerhouse said in exchange filings.
In the June quarter, which was its first earnings after going public in May with an over ₹20,530-crore IPO, the insurer had reported a net profit of just ₹682.9 crore.