1. Max Financial Services Q2 loss at Rs 13 crore

Max Financial Services Q2 loss at Rs 13 crore

Max Financial Services, formerly Max India Ltd, has posted a loss of Rs 13.12 crore in the second quarter ended September 30, 2016.

By: | New Delhi | Published: November 4, 2016 5:08 PM
"The results for the quarter and six months ended September 30, 2015 are restated in the standalone financial results to reflect the effect of the scheme," Max Financial Services said. (PTI) “The results for the quarter and six months ended September 30, 2015 are restated in the standalone financial results to reflect the effect of the scheme,” Max Financial Services said. (PTI)

Max Financial Services, formerly Max India Ltd, has posted a loss of Rs 13.12 crore in the second quarter ended September 30, 2016.

In the corresponding July-September quarter of previous fiscal also the company had posted a similar loss of Rs 13.07 crore.

Total income of the company however increased to Rs 13.75 crore for the quarter as against Rs 11.38 crore in the same quarter a year ago, it said in a filing to exchanges.

Company’s second quarter results for the previous fiscal have been re-stated following the corporate restructuring plan to vertically split the company through a composite scheme of arrangement, into three separate listed companies in January 2015.

“The results for the quarter and six months ended September 30, 2015 are restated in the standalone financial results to reflect the effect of the scheme,” Max Financial Services said.

The previous period’s figures have been regrouped/reclassified wherever necessary, to correspond with the current period’s classification/disclosures, it added.

The total assets of the company as on September 30, 2016 stood at Rs 1,794.72 crore.

Stock of the company were trading at Rs 540.30 on BSE, down 0.02 per cent from previous close.

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