Nippon India AMC has recorded 5% growth in its net profit (PAT) to Rs 141 crore in Jul-Sep as against Rs 134 crore net profit in the corresponding quarter last year.
An analysis of earnings of the fund house shows even as the company's total income witnessed a slight decline, a sharp fall in its total expenses helped the AMC register an increase in its net profit.
The fund house’s total expenses declined by 22% to Rs 117 crore as against Rs 150 crore in the corresponding quarter last year. This was largely because of decline in fees and commissions along with reduced expenses on employee benefits.
Meanwhile, the fund house’s total half yearly income reduced to Rs 302 crore from Rs 307 crore a year ago.
The company said that the lock-down restrictions imposed by the government has affected its financial operations.
