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Max Financial Services reports net loss of Rs 13.12 crore in Q2FY17

04 Nov 2016 Evaluate

Max Financial Services has reported results for second quarter ended September 30, 2016.  

The company has reported a net loss after tax of Rs 13.12 crore for the quarter ended September 30, 2016 as compared to a net loss of Rs 13.07 crore for the same quarter in the previous year. The company’s total income has increased by 20.83 % to Rs 13.75 crore for the quarter under review from Rs 11.38 crore for the corresponding quarter of the previous year.  

Max Financial Services, formerly known as Max India, the newly de-merged entity of the Max Group, holds around 72 percent in Max Life. The fourth-largest life insurer in the private sector, Max Life is a joint venture with Japan-headquartered Mitsui Sumitomo Insurance.

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