Max Financial Services Q3 Profit Drops 59% to Rs 70 Crore
Max Financial Services reported a 59% decline in net profit to Rs 70 crore in Q3 FY2025, with policyholders' income from life insurance operations also falling.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Feb 4 (PTI) Max Financial Services Ltd (MFSL), the holding company of Axis Max Life Insurance Limited, on Tuesday reported a 59 per cent fall in net profit to Rs 70 crore in the third quarter ended December 2024.
The company had earned a consolidated net profit of Rs 171 crore in the year-ago period.
During the reporting quarter, policyholders' income from life insurance operations saw a decline to Rs 8,809 crore as against Rs 12,237 crore in the same quarter a year ago, MFSL said in a release.
As a result, the consolidated total income plummeted to Rs 8,927 crore as compared to Rs 12,359 crore in the third quarter of previous year, it said.
The other subsidiary under MFSL is Max Life Pension Fund Management Limited.
The company had earned a consolidated net profit of Rs 171 crore in the year-ago period.
During the reporting quarter, policyholders' income from life insurance operations saw a decline to Rs 8,809 crore as against Rs 12,237 crore in the same quarter a year ago, MFSL said in a release.
As a result, the consolidated total income plummeted to Rs 8,927 crore as compared to Rs 12,359 crore in the third quarter of previous year, it said.
The other subsidiary under MFSL is Max Life Pension Fund Management Limited.
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