NAM India's Q4 Profit After Tax Rises By 5% To Rs 175 Crore

Nippon Life India Asset Management (NAM India) on Tuesday reported a 5 per cent increase in profit after tax at Rs 174.85 crore for three months ended March 2022.

In comparison, the company had a profit after tax (PAT) of Rs 166.77 crore in the same quarter preceding fiscal, NAM India said in a regulatory filing to stock exchanges.

Revenues from operations rose by 12 per cent to Rs 338 crore during the quarter under review from Rs 301.9 crore in the fourth quarter ended March 31, 2021.

For the entire 2021-22, the company had posted a PAT of Rs 744.2 crore, up 9 per cent from the last financial year, and revenue from operations was at Rs 1,306.64 crore in FY22, a jump of 23 per cent from the past fiscal.

Sundeep Sikka, ED and CEO, NAM India, said that fourth quarter earnings were characterised by contrasting trends. On one hand, geopolitical concerns and higher inflation bias resulted in volatile global markets. However, investors' inclination towards long-term value creation resulted in greater and stable flows for MFs.

"Today, NIMF caters to the largest base of investors in the industry. Overall market share grew by 26 basis points. I am very happy to state that NAM India recorded its highest-ever profit in FY22. The strong asset growth, operating efficiencies and accelerated client acquisitions are driven by an unwavering focus on providing sustainable and differentiated solutions," he added.

The board of directors have proposed a final dividend of Rs 7.50 per equity share for the year ended March 31, 2022, subject to the approval of the shareholders at the ensuing annual general meeting. NAM India is the asset manager of Nippon India Mutual Fund's scheme.

As of March quarter, NAM India has assets under management of over Rs 3.45 lakh crore, including Rs 2.83 lakh crore of Nippon India Mutual Fund.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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