Nippon Life India Q3 Profit Jumps 39% to Rs 284 Cr
Jan 29, 2024 18:54
Nippon Life India Asset Management reported a 39% rise in Q3 PAT to Rs 284 crore, driven by a 27.6% growth in revenue. Assets under management reached Rs 4.81 lakh crore.
New Delhi, Jan 29 (PTI) Nippon Life India Asset Management on Monday reported a 38.5 per cent rise in profit after tax to Rs 284 crore for three months ended December 2023.
In comparison, the company posted a profit after tax (PAT) of Rs 205 crore in the year-ago period, Nippon Life said in a regulatory filing.
The company's total revenue grew 27.6 per cent to Rs 530.39 crore in the quarter under review from Rs 415.74 crore in the October-December period of the preceding financial year (2022-23).
Nippon Life is the asset manager of Nippon India Mutual Fund (NIMF).
As on December 31, 2023, Nippon Life's assets under management were at Rs 4.81 lakh crore, including NIMF's assets base of Rs 3.78 lakh crore.
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