India's Max Financial gains on reporting profit, higher April sales

Max Financial Services

14/05/2025 07:16

** Shares of Max Financial MAXI.NS jump 2.7% to 1,326 rupees

** The insurance company reports a net profit of 313.1 million rupees ($3.7 million) in the March quarter, compared to a loss in year-ago quarter

** Axis-Max Life's value of new business - a gauge to measure future profitability - rises 4% in the March quarter, aided by better margins, says Jefferies, reiterating "buy" rating on MAXI

** Axis Max Life Insurance is a JV between private lender Axis Bank AXBK.NS and MAXI

** Jefferies, Citi say Axis-Max Life led the retail annual premium equivalent (APE), a metric that indicates sales, in April, aided by new product launches in the March quarter

** MAXI up 16% YTD vs 2% drop in Nifty midcap 100 index .NIFMDCP100

($1 = 85.3100 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))