Money & Banking

Max Financial Q3 profit up 41% to ₹ 140 cr

PTI New Delhi | Updated on February 11, 2019 Published on February 11, 2019

Max Financial Services on Monday reported a rise of 41 per cent in standalone net profit at ₹139.89 crore for the third quarter ended December 31, 2018.

The company’s net profit stood at ₹ 99.45 crore in the year-ago quarter.

During September quarter 2018-19, the company reported a net loss of ₹ 56.33 crore.

Total income during the latest quarter rose to ₹ 176.57 crore as against ₹ 131.43 crore in the same period of the preceding fiscal, the company said in a regulatory filing.

Consolidated figures were not given by the company.

During the latest quarter, Max Financial acquired 14,170,817 shares of its subsidiary Max Life Insurance Co Ltd(MLIC), from Axis Bank for ₹ 162.96 crore, thereby increasing its stake in MLIC from 70.75 per cent to 71.49 per cent, it said in the filing.

Published on February 11, 2019
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