Max Financial Q3 Profit Before Tax at Rs 127 Crore

Max Financial Q3 Profit Before Tax at Rs 127 Crore

New Delhi: Max Financial Services (MFS), the first company to be listed following the recently concluded demerger of erstwhile Max India, today posted profit before tax of Rs 127 crore for the third quarter of 2015-16. 

It has recorded consolidated operating revenues of Rs 2,248 crore during the quarter. 

Max Life Insurance, the sole operating subsidiary held by the company, continued its consistent growth trajectory in quarter, with operating revenue growing 10 per cent to Rs 2,243 crore and profits before tax growing 92 per cent to Rs 140 crore over the same period last year, MFS said in a statement. 

The company's Assets Under Management (AUM) stood at Rs 34,709 crore as at December 2015, growing 16 per cent over the same period last year. 

In January 2016, the Max Group concluded a corporate restructuring wherein the erstwhile Max India was demerged into three separate entities, Max Financial Services, Max India and Max Ventures & Industries. 

The original company was renamed Max Financial Services and the ex-demerger stock of MFS started trading from January 27, 2016. 

The other two demerged entities, Max India and Max Ventures & Industries, will be listed on Indian stock exchanges in March 2016.

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