Shares of Max Financial Services rose around 3% in Friday’s early trade after the company announced its Q1 FY26 results. As of 9:44 AM, the shares were trading 2.60% higher at Rs 1,544.00.
The company reported a net profit of ₹69.6 crore, down 45.3% from ₹127 crore in the same quarter last year. Despite the decline in profit, net interest income rose 16.8% year-on-year to ₹132 crore compared to ₹113 crore in Q1FY25.
Consolidated revenue for the quarter, excluding investment income, grew 18% year-on-year. The life insurance subsidiary, Axis Max Life Insurance, reported a 23% increase in individual adjusted first-year premium at ₹1,553 crore. Total annualised premium equivalent rose 15% year-on-year to ₹1,668 crore.
The company’s value of new business stood at ₹335 crore, a 32% rise from ₹254 crore last year. VNB margin improved to 20.08% from 17.5%, an increase of 300 basis points. Gross written premium during the quarter was ₹6,397 crore, reflecting 18% growth over the previous year. Renewal premium rose 17% year-on-year to ₹3,873 crore.
Axis Max Life’s private market share expanded by 121 basis points to reach 10% in Q1FY26.
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