|
Max India Q2 net dips 51 per cent to Rs 5.24 crore
Our Corporate Bureau
New Delhi, Oct 27: Max India has reported a 51 per cent drop in net profit to Rs 5.24 crore for the second quarter ended September 2000, down from Rs 10.24 crore reported during the corresponding quarter of the last year. Turnover during the quarter, at Rs 35.75 crore, was marginally up by 7 per cent from Rs 33.43 crore reported during the corresponding quarter last year.For the six month-period ended September, turnover stood at Rs 76.06 crore and net profit at Rs 16.09 crore. The company's board met on October 25 to take on record Max India's second quarter results. Non-annualised earning per share (EPS) for the second quarter stood at Rs 2.16 against Rs 8.88 for the corresponding quarter last year. Commenting on the results, Max India chairman Analjit Singh said, "Our focus has been on building new business areas in healthcare, life insurance and information technologies. I am happy to announce that our joint venture with New York Life- the Max New York Life Insurance Company has been awarded the certificate of registration in principle by IRDA." "Max India has undertaken a number of initiatives to reduce costs and increase the operational efficiencies of our existing businesses," he said. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
|