Nippon Life AMC's profit in March quarter up y-o-y by 73.2%

25 Apr 2024 , 10:28 AM

Nippon Life Asset Management Company (AMC) has reported its fourth-quarter financial results. The company has posted a 73.2% increase in net profit to ₹343 Crore from ₹198 Crore in the same period last year.

Following the result announcement, the company’s counter gained over 5% to touch an intraday high of ₹614.95 in Thursday morning session.

Revenue increased by 34.5% to ₹468.3 Crore, compared to ₹348.3 Crore in the previous year.

The company’s consolidated EBITDA (profits before interest, taxes, depreciation, and amortisation) increased by 39.2% year on year (YoY) to ₹291 Crore from ₹209 Crore last year.

In addition, the consolidated margin was 62.1%, up from 60% the previous year.

Further, the Board of Directors also recommended a final dividend of ₹11.00 per equity share of ₹10 for the fiscal year ending March 31, 2024.

This final payment brings the total payout for fiscal year 2023-24 to ₹16.50 per equity share, including the interim dividend of ₹5.50 per equity share payable in November 2023.

The Company manages mutual funds, such as exchange traded funds (ETFs), managed accounts, which include portfolio management services, alternative investment funds, and pension funds, as well as offshore funds and advisory mandates.

As of December 31, 2023, Nippon Life Insurance Company owns 73.10% of NAM India’s total issued and paid-up equity share capital. NAM India’s equity shares are listed on both BSE Limited and the National Stock Exchange of India Limited.

At around 10.10 AM, Nippon Life AMC was trading 0.72% higher at ₹588.55, against the previous close of ₹584.35 on NSE.

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