Mumbai: The shares of the Life Insurance Corporation of India (LIC) went up around 3 per cent in the opening trade on Friday after posting a healthy quarter earnings.

The share opened at Rs 1,159 apiece as the country’s largest insurer reported 9 per cent rise in net profit (year-on-year) in the April-June period, as net premium income surged by 16 per cent.

Nearly 35 lakh policies were sold during Q1 FY25 in the individual segment as compared to 32 lakh in a year-ago period.

LIC has partially resumed operations in Bangladesh. The company said the situation in Bangladesh has still not reached the normalcy stage and may continue to hamper operations.

“Till the time the normalcy is restored, the impact of the situation cannot be ascertained,” said LIC. The offices were closed due to the political unrest in the neighbouring country.

Meanwhile, the government-owned insurer’s net premium income rose 16 per cent to Rs 1.14 lakh crore in the first quarter of 2024-25 as compared to Rs 98,755 crore in the first quarter of 2023-24.