Max Financial Services (MFSL) gained 1.26% to Rs 737.90 after the company s consolidated net profit jumped 53.9% to Rs 227.13 crore on a 67.5% rise in total income at Rs 8,990.28 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) surged 57.7% to Rs 279.54 crore in Q3 December 2020 as against Rs 177.25 crore in Q3 December 2019. Current tax expenses for the quarter soared 73.7% to Rs 50.38 crore as against Rs 29 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 9 February 2021.
In Q3 FY21, Max Financial Services (MFSL) sole subsidiary Max Life reported gross written premium of Rs 4,629 crore, registering a 19% growth over the previous year. Shareholders PAT stood at Rs 220 crore, rising 43% over the previous year, due to higher investment income and reserve release due to hedging of in-force protection business.