Max Financial Services Q3 profit slips 56% to Rs 62cr

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Max Financial Services on Wednesday reported a 56 per cent decline in standalone net profit at Rs 61.60 crore for the third quarter ended December 31, 2019.

The company's net profit had stood at Rs 139.89 crore in the year-ago quarter.

Its total income during the latest quarter also slipped to Rs 80.19 crore as against Rs 176.57 crore in the year-ago quarter, the company said in a regulatory filing.

Max Financial Services Ltd (MFSL) is the parent company of Max Life. MFSL actively manages a majority stake in Max Life Insurance Company Ltd, making it India's first listed company focused exclusively on life insurance.