LIC’s shares surged over 3% in morning trade on Thursday after the insurer reported a five-fold increase in fourth-quarter net profit. In Q4, India’s largest life insurer made a net profit of ₹13,428 crore, up from ₹2,372 crore in Q4. On a sequential basis, LIC’s bottom line grew from 8,334 crore in Q3 by 61%.