Nippon Life India AMC has witnessed its net profit increase by 42% in the December quarter to Rs 212 crore as against Rs 149 crore in the corresponding period last fiscal.
The AMC’s board has approved Rs 3 per share interim dividend.
The asset management company has largely benefitted from a sharp decline in operating expenses and a considerable increase in other income that includes income from investments.
Overall expenses declined by 22% to Rs 130 crore in Oct-Dec as against Rs 167 crore a year ago. This was largely on the back of a fall in employees benefit expenses that declined to Rs 66 crore from Rs 81 crore a year ago.
Meanwhile, other income rose by a whopping 126% to Rs 130 crore in this lockdown quarter, as against Rs 57.5 crore a year ago. This includes the company's income from various investments in the market.
Total AUM of the AMC stood at Rs 3.52 lakh crore as on December 2020.
