Max Financial Services (MFSL) gained 1.26% to Rs 737.90 after the company s consolidated net profit jumped 53.9% to Rs 227.13 crore on a 67.5% rise in total income at Rs 8,990.28 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) surged 57.7% to Rs 279.54 crore in Q3 December 2020 as against Rs 177.25 crore in Q3 December 2019. Current tax expenses for the quarter soared 73.7% to Rs 50.38 crore as against Rs 29 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 9 February 2021.
In Q3 FY21, Max Financial Services (MFSL) sole subsidiary Max Life reported gross written premium of Rs 4,629 crore, registering a 19% growth over the previous year. Shareholders PAT stood at Rs 220 crore, rising 43% over the previous year, due to higher investment income and reserve release due to hedging of in-force protection business.
Max Financial Services Ltd reports Q3FY21 earnings
Posted On: 2021-02-09 01:16:03 (Time Zone: Arizona, USA)
Max Financial Services Ltd. (MFSL) today announced its financial results for the quarter ended December 31st, 2020. In Q3 FY21, MFSL s consolidated revenues were at Rs. 8,990 Cr., growing 68% year-on-year due to higher investment income. Consolidated PAT grew 54% to Rs. 227 Cr.
In Q3 FY21, MFSL s sole subsidiary Max Life reported Gross written premium of Rs. 4,629 Cr, Up 19% over the previous year. Shareholders PAT of Rs. 220 Cr, up 43% over the previous year, due to higher investment income and reserve release due to hedging of in-force Protection business.
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(Ramesh Pathania/Mint)
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New Delhi [India], January 21 (ANI): The Competition Commission of India (CCI) on Thursday approved the acquisition of stake in Max Life Insurance Company Limited by Axis Bank Limited, Axis Capital Limited and Axis Securities Limited, according to the Ministry of Corporate Affairs.