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Max Financial Services net up 12 pc at Rs 75cr

Max Financial Services (MFS) today reported a 12 percent increase in standalone net profit at Rs 75.44 crore for the April-June quarter of this fiscal.


PTI Last Updated at 06 Aug 2018, 21:08 IST India
Max Financial Services net up 12 pc at Rs 75cr

Max Financial Services (MFS) today reported a 12 percent increase in standalone net profit at Rs 75.44 crore for the April-June quarter of this fiscal.

Company's net profit in the corresponding April-June period of 2017-18 was at Rs 67.19 crore.

Total income was up at Rs 129.13 crore for the first quarter of 2018-19 from Rs 94.10 crore in the year-earlier period.

MFS' sole operating subsidiary is Max Life.

Max Life's assets under management by end June were Rs 53,940 crore, up 18 percent from a year ago.

Mohit Talwar, Managing Director, Max Financial Services said: "The quality of the business across several parameters remains top quartile. The robust growth in embedded value and value of new business (of Max Life) reflects strong fundamentals in the existing business and a continued focus on profitable new business."

MFS shares closed 0.61 percent up at Rs 522.10 on BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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