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1 min read | Updated on February 05, 2025, 10:29 IST
SUMMARY
Max Financial Services Ltd (MFSL) reported a 59% drop in Q3 FY25 net profit to ₹70 crore, down from ₹171 crore last year. Policyholders' income fell to ₹8,809 crore. Shares rose 3.34% to ₹1,137.60.
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Max Financial's consolidated total income plummeted to ₹8,927 crore in Q3 FY25.
Shares of Max Financial Services Ltd (MFSL) were trading at ₹1,137.60, up 3.34% on the NSE on Wednesday, February 5, a day after it reported a 59% fall in net profit to ₹70 crore in the third quarter ended December 2024.
The holding company of Axis Max Life Insurance Limited had earned a consolidated net profit of ₹171 crore in the year-ago period.
During the reporting quarter, policyholders' income from life insurance operations saw a decline to ₹8,809 crore as against ₹12,237 crore in the same quarter a year ago, MFSL said in a release.
As a result, the consolidated total income plummeted to ₹8,927 crore as compared to ₹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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