India, May 25 -- State-owned Life Insurance Corporation of India (LIC) has emerged as the highest profit-making firm in the Indian financial sector in the March quarter, netting a little over Rs 23,400 crore.

Even among Central Public Sector Enterprises, the Corporation maintained the number one position for fourth-quarter profit for FY26.

Last week, LIC reported a 23 per cent jump in net profit to record Rs 23,420 crore in the just concluded March quarter as compared to Rs 19,013 crore in the corresponding period of the previous year.

The insurance behemoth was followed by the country's biggest lender, State Bank of India (SBI), and the second-biggest lender, HDFC Bank, with profit of Rs 19,684 crore and Rs 19,221 crore, respectively,...