NAM India Q3 results: PAT surges 42%; total income up 11%

NAM India Q3 results: PAT surges 42%; total income up 11%

Nippon Life India Asset Management (NAM India) on Wednesday reported a 42 per cent jump in profit after tax at Rs 212 crore for three months ended December 31, 2020.In comparison, the company had a profit after tax (PAT) of Rs 149.30 crore in the year-ago period, NAM India said in a regulatory filing to stock exchanges.

Total income rose by 11 per cent to Rs 399 crore during the quarter under review from Rs 360.64 crore in three months ended December 31, 2019.

In addition, the company’s board approved interim dividend of Rs 3 per share.

Sundeep Sikka, ED and CEO of NAM India said, “In the last six months, global and domestic economic activity has seen a sharp rebound. The Indian mutual fund industry’s assets have increased at a strong pace in this period and, are poised to grow exponentially in the next three-five years”.

“Our priority is to be ‘future ready’ and capture this long-term opportunity,” he added.

NAM India is the asset manager of Nippon India Mutual Fund’s scheme.

As of December quarter, NAM India has assets under management of Rs 3.52 lakh crore, including Nippon India Mutual Fund of Rs 2.13 lakh crore.

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