Max Financial Services Ltd (MFSL) on Tuesday (February 6) reported a 19% year-on-year (YoY) rise in total annualised premium equivalent (APE) at ₹1,795 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year,
Max Financial Services posted an APE ₹1,510 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted an APE of ₹1,859 crore for the quarter under review.
The value of new business (VNB) declined 18% to ₹489 crore as against ₹593 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted the value of the new business at ₹545 crore for the quarter under review.
The VNB margin for the third quarter of FY24 dipped to 27.24% as against 39.27% in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted a VNB margin of 29.3% for the quarter under review.
Shares of Max Financial Services Ltd ended at ₹911.65, up by ₹39.15, or 4.49% on the BSE.
First Published: Feb 6, 2024 11:45 PM IST
