Max India Q4 Net up 84 pc at Rs 52.5 cr

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Diversified business group Max India today posted 84 per cent increase in profit after tax at Rs 52.5 crore for the fourth quarter ended March 31, 2014.

The company had posted a net profit of Rs 28.5 crore in the same period of previous fiscal.

Revenues of the company grew by 52 per cent to Rs 3,740 crore for the fourth quarter, compared to Rs 2,468 crore in the same period of previous fiscal, Max India said in a statement.

For the year ended March 31, 2014, the company posted a profit after tax of Rs 209 crore, up 44 per cent, from Rs 146 crore in the 2012-13 fiscal.

The company's revenues rose by 19 per cent to Rs 11,683 crore for the fiscal, as against Rs 9,820 crore in the corresponding fiscal.

"Our Businesses of Life continue to set the pace in their respective industries, while focusing on sustained profitability and growth over key fiscal metrics," Max India Ltd Managing Director Rahul Khosla said.

The macro environment looks positive with the new government in place, he added.

In a filing to the BSE, the company said its board has recommended a final dividend of 90 per cent--Rs 1.80 for every equity share of Rs 2 each, for the financial year 2013-14.

The Capital-based group has presence across various sectors, including insurance and healthcare.

Max India shares today closed at Rs 247.65 apiece on the BSE, up 1.75 per cent from previous close.

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