Max Financial Services is Company’s main focus is on developing and nurturing business ventures and supplying Indian group companies management advisory services. It owns and actively manages a majority stake of 81.83 percent in Max Life Insurance which is India’s largest non-bank life insurer and the fourth largest private life insurance company.
Financial Results:
In Max Financial Services Limited (MFSL) financial results for nine months (9M) of FY23, a 3% lower consolidated revenues was reported which stood at INR 21,497 crore. This was caused due to lower investment income.
Excluding the investment income, a growth of 12% was observed in the consolidated revenues which stood at INR 15,890 crore. Due to lower new business strain than the corresponding previous period the company’s PAT stood at INR 399 crore in the nine-month fiscal year 2023 period, which was up by 129%. In the third quarter of FY23, the consolidated revenue increased by 28% to stand at INR 8898 crore and the Consolidated Profit after Tax went up by 196% to stand at INR 296 crore.
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