Shares of Max Financial Services rose over 4% in early trade today, reaching Rs 1,145.65 following the announcement of its Q3FY25 financial results and restructuring plans involving the public listing of Axis Max Life. Despite reporting a 59% year-on-year decline in net profit, investors reacted positively to the company’s strategic announcement.
Earnings Overview:
The company reported a net profit of Rs 70 crore for Q3FY25, down from Rs 171 crore in the corresponding quarter last year. The decline was attributed to lower policyholder income from life insurance operations, which dropped to Rs 8,809 crore from Rs 12,237 crore a year ago. This led to a 28% fall in total income to Rs 8,927 crore from Rs 12,359 crore.
Strategic Move for Axis Max Life:
Max Financial Services announced that it has approved the listing of its unit, Axis Max Life Insurance, following a merger with the insurer. The decision comes after the insurance regulator asked for a public listing roadmap. Max Financial, which holds an 81% stake in Axis Max Life, said the listing process would begin once the legal framework for such mergers is clarified.
Updated stock details:
- Current Price: Rs 1,145.65
- Previous Close: Rs 1,100.85
- Market Cap: Rs 39,649 crore
- Day’s Range: Rs 1,133.00 – Rs 1,169.40
- 52-Week Range: Rs 864.00 – Rs 1,306.45
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