Max Financial Services edged higher by half a per cent in early trading after the company reported a gigantic jump in net profit in the March quarter. The company reported net profit of Rs 70 crore in the January-March quarter from Rs 6.7 crore in the year-ago period on the back of higher investment income and lower tax expenses. At 10:55 am, Max Financial Services shares were trading at Rs 1,020.50, up 0.50 per cent, on the BSE.
Max Financial Services registered consolidated revenues of Rs 9,760 crore in Q4 FY21 from Rs 4,266 crore in Q4 FY20, excluding investment gains, the revenues grew 21 per cent.
For the full financial year 2021, the company's net profit jumped 105 per cent to Rs 560 crore.
The BSE Sensex was trading at 52,382.55, higher by 102.67 points or 0.21 per cent and the NSE Nifty was at 15,781.55, up 0.26 per cent at the time.