Max Financial Services reported a steep 96% year-on-year decline in net profit at ₹4.1 crore for Q2 FY26, compared to ₹113 crore in the same quarter last year. The drop was largely due to lower earnings from its life insurance arm, Axis Max Life.

Net interest income (NII) grew 13.9% YoY to ₹131 crore from ₹115 crore, even as the life insurance segment revenue fell to ₹9,790.7 crore from ₹13,370.5 crore a year ago. The segment’s profit also declined sharply to ₹23.7 crore from ₹170.8 crore.

Commenting on the performance, Sumit Madan, CEO and Managing Director of Axis Max Life, said the company continues to see strong momentum in Individual Adjusted First Year Premium and Value of New Business. “Our balanced channel mix and expanding margins reflect disciplined execution and focus on sust

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