New Delhi:

Max Financial Services (MFS) on Monday reported a 12 percent increase in standalone net profit at Rs 75.44 crore for the April-June quarter of this fiscal.

Company's net profit in corresponding April-June period of 2017-18 was at Rs 67.19 crore.
Total income was up at Rs 129.13 crore for the first quarter of 2018-19 from Rs 94.10 crore in year earlier period.


MFS' sole operating subsidiary is Max Life.

Max Life's assets under management by end June were Rs 53,940 crore, up 18 percent from year ago.

Mohit Talwar, Managing Director, Max Financial Services said: "The quality of the business across several parameters remains top quartile. The robust growth in embedded value and value of new business (of Max Life) reflects strong fundamentals in the existing business and a continued focus on profitable new business."

MFS shares closed 0.61 percent up at Rs 522.10 on BSE.