Max India Q2 results: Net loss narrows to Rs 17 cr

New Delhi: Max India on Wednesday reported narrowing of its consolidated net loss to Rs 17.30 crore for the quarter ended September.

The company (formerly Advaita Allied Health Services Ltd) had posted a net loss of Rs 27.62 crore in the same period of the preceding fiscal.

However, compared sequentially, the net loss widened as against Rs 13.37 crore in the first quarter of 2020-21.


Total income (consolidated) fell to Rs 30.66 crore in the July-September period of this fiscal year, as against Rs 39.46 crore in the same quarter of FY20, Max India said in a regulatory filing.

Total expenses stood at Rs 46.81 crore, compared to Rs 52.37 crore earlier.

The consolidated results include financial numbers of six fully-owned subsidiary companies and two joint ventures, it said.

During the fiscal ended March 2020, the entire shareholding of the company in subsidiaries Max Bupa Health Insurance Co Ltd (Max Bupa) and Pharmax Corporation Ltd (excluding cumulative redeemable preference shares) was divested in November and December 2019, Max India said.

Max India stock closed 1.63 per cent down at Rs 54.30 apiece on BSE.