- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Max Financial Services Q4 Net Profit Falls 64% To Rs 52 crore
According to the company’s regulatory filing, consolidated revenue of Rs 9,929 crore was registered in the quarter from Rs 8,960 crore in Q4 FY23
Photo Credit : Twitter
Max Financial Services (MFSL) on Friday reported a 64 per cent decline in consolidated net profit at Rs 52 crore in the fourth quarter that ended on 31 March 2023.
The insurance company reported a net profit of Rs 144 crore in a year over the period January-March. According to the company’s regulatory filing, consolidated revenue of Rs 9,929 crore was registered in the quarter from Rs 8,960 crore in Q4 FY23.
It added the total expenses increased to Rs 9,876 crore against Rs 8,809 crore a year ago.
Subsequently, its net profit for the full year 2023 jumped by 42 per cent to Rs 451 crore against Rs 318 crore in the previous financial year.
MFSL is a part of the Max Group and owns an 87 per cent stake in Max Life Insurance. Its total new business premium collection was (individual and group) Rs 8,960 crore over the previous financial year.