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Max Financial Services Ltd on Tuesday reported a two-fold jump in consolidated net profit at Rs 144 crore for the last quarter of 2021-22.
The company had logged a net profit of Rs 70 crore in the same period a year ago.
Max Financial Services Ltd's consolidated revenues declined to Rs 8,962 crore in the quarter from Rs 9,760 crore in Q4 of the previous financial year, it said in a release.
For the full fiscal 2021-22, the company posted a consolidated profit of Rs 318 crore, 43 per cent lower compared to the previous year.
Its sole operating subsidiary Max Life Insurance recorded 27.4 per cent rise in total new business premium (individual and group) to Rs 1,528 crore in FY22.
Max Life's assets under management (AUM) were at Rs 1,07,510 crore as on March 31, 2022, a rise of 19 per cent over the previous year.
The company further said Naina Lal Kidwai has resigned from the position of independent director with effect from May 31, 2022.
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