Max Financial Services Results Earnings Call for Q1FY24
Conference Call with Max Financial Services Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.10-08-2023
10-08-2023
Q1FY24 Quarterly Result Announced for Max Financial Services Ltd.
Life insurance company Max Financial Services announced Q1FY24 results: New business premium of Rs 1,857 crore, up 25%, proprietary channels grew 23% Gross written premium of Rs 4,871 crore, up 19%. Embedded value at Rs 16,938 crore; Operating RoEV at 14.0%. New business margin (NBM) at 22.2%, up 110 bps Value of new business at Rs 247 crore, up 16%. Total assets under management of Rs 1,29,127 crore, up 21% Consolidated revenue of Rs 4,730 crore, grew 19% YoY Consolidated PAT at Rs 101 crore, up 48% YoY on account of higher investment income. Analjit Singh, Chairman Max Life Insurance and Max Financial Services, said, “The increased stake in Max Life by Axis Bank, has been long awaited and will lead to a more naturally balanced ownership level considering the importance of the power of distribution through the Banca channel of Axis Bank.” Prashant Tripathy, MD and CEO, Max Life Insurance, said, “The additional investment by Axis Bank will hugely strengthen our insurance franchise. On the back of our innovative and balanced product mix, and strong growth in proprietary business, we’ve delivered a strong quarter. We are focused to drive new and strategic partnerships to unlock growth for the company along with building momentum in the existing ones.” Result PDF10-08-2023
Max Financial Services shares surge 10% on promoter Axis Bank's stake purchase, Q1 earnings
Max Financial Services also reported its June quarter earnings where the financial services entity reported over 47% year-on-year (YoY) jump in its net profit. The consolidated net profit for the period stood at Rs 101.13 crore which was up Rs 68.48 crore posted by the company in the year-ago period.10-08-2023
Max Financial Services Ltd - 500271 - Announcement under Regulation 30 (LODR)-Investor Presentation
As per enclosed presentation09-08-2023
Max Financial Services Ltd - 500271 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Released enclosed09-08-2023
Max Financial Services Ltd - 500271 - Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Approval Of Financial Results
As per enclosed disclosure.09-08-2023
Max Financial Services Ltd - 500271 - Board Meeting Outcome for Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Approval Of Financial Results
Please refer to our letter dated June 30, 2023, on the above subject. In this regard, we would like to inform you that the Board of Directors of the Company at its meeting held today approved the Standalone and Consolidated unaudited financial results of the Company for the quarter ended June 30, 2023 and noted the Limited Review Report thereon issued by the Statutory Auditors. The said financial results and the Limited Review Report for the said period are attached herewith. The Board meeting commenced at 1700hrs. and concluded at 1810 hrs.today. You are requested to take the aforesaid on record.09-08-2023
Max Financial Services Ltd - 500271 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
As per the details attached04-08-2023
Max Financial Services Ltd - 500271 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
As per the disclosure attached03-08-2023