Published on 27/10/2020 5:49:34 PM | Source: IANS

Nippon Life AMC Q2 net profit up 5.01% at Rs 140.58 cr

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The company reported standalone net profit of Rs 140.58 crore for the quarter ended September 30, 2020 as compared to Rs 133.87 crore in the same period last year, registering a year-on-year growth of 5.01 per cent.

Net revenue of the company declined moderately by 15.18 per cent at Rs 240.51 crore in July-September quarter of this fiscal as against Rs 283.57 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 23.55 per cent to Rs 107.91 crore from Rs 141.16 crore in year ago period.

Other Income grew by 162.82 per cent at Rs 61.92 crore versus (Sep'19 Rs 23.56 crore). Operating Profit slipped by 6.89 per cent to Rs 132.60 crore as against Rs 142.41 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 9.78 per cent in September quarter.

Interest declined by 28.40 per cent y-o-y to Rs 1.16 crore, while Taxation increased by 96.60 per cent at Rs 45.04 crore (Sep'19 Rs 22.91 crore).