Mumbai, Aug. 7 -- Life Insurance Corporation of India (LIC) reported a standalone net profit of Rs.10,987 crore for the first quarter of FY26, marking a 5% increase from Rs.10,461 crore in the corresponding period a year ago.

Net premium income also rose by 5% year-on-year to Rs.1.19 lakh crore during the April-June quarter, up from Rs.1.14 lakh crore in Q1 FY25, according to a Moneycontrol report.

Asset quality showed notable improvement, with gross non-performing assets (GNPA) down 21% year-on-year to Rs.8,436.5 crore, and net NPAs falling sharply by 36% to Rs.4 crore.

Despite this, strong renewals helped shore up the company's income.

Group business APE grew by 16.14% to Rs.5,590 crore, while total APE rose 9.45% year-on-year to Rs...