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Our Bureau

New Delhi May 18 Max India has reported loss of Rs 3.82 crore for the fourth quarter ended March against net profit of Rs 6.68 crore in the corresponding previous period.

However, net sales rose 36.03 per cent to Rs 43.87 crore (Rs 32.25 crore).

Net profit for the year ended March stood at Rs 14.23 crore (Rs 5.89 crore), while net sales grew 24.41 per cent to Rs 155.34 crore (Rs 124.86 crore).

For the whole year, the group reported net loss of Rs 49.73 crore against net profit of Rs 309.46 crore earlier.

Net sales for the year increased 80.4 per cent to Rs 1,818.9 crore (Rs 1,008.21 crore).

According to a company release, cash generated from operations in Max New York Life Insurance during the year grew 154 per cent to Rs 742 crore (Rs 292 crore).

The gross premium income registered 90.35 per cent growth to Rs 1,500 crore (Rs 788 crore).

The release added that the annualised first year premium (new sales) for the fiscal grew 81 per cent to Rs 970 crore (Rs 536 crore).

In the healthcare segment, the revenue across the network of hospitals registered 79 per cent growth to Rs 245 crore.

More Stories on : Life Insurance | Financial Performance

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