Max India Q1 net profit up at Rs 537 cr

Max India today said its standalone net profit stood at Rs 537 crore for the first quarter ended June 30,2012.

It had reported a net loss of Rs 2 crore during the same period a year ago,the company said in a statement.

The company’s standalone revenue for the April-June quarter stood at Rs 900 crore against Rs 189 crore in the corresponding quarter last year,the company said in a statement.

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“The standalone operating revenue for the quarter ended June 30,2012,is Rs 198 crore against Rs 177 crore in the corresponding previous quarter,growing 12 per cent year-on-year,” it said.

Max India said it has concluded its transaction with Mitsui Sumitomo Insurance,Japan and New York Life during the quarter resulting in a pre-tax cash inflow of Rs 802 crore.

Shares of Max India today closed at Rs 182.05 apiece on the BSE,down 0.19 per cent from the previous close.

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Two men belonging to the Rohit Godara-Goldy Brar Gang were killed in an encounter in Ghaziabad, suspected to be involved in the firing outside Disha Patani's residence. The duo, identified as Ravindra and Arun, were wanted in multiple cases and were spotted by the police through CCTV footage. UP CM Yogi Adityanath had directed for a speedy investigation and strict action against the perpetrators.

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