Nippon Life AMC Q1 net profit down 29.39% at Rs 120.95 cr
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The company reported standalone net profit of Rs 120.95 crore for the quarter ended June 30, 2022 as compared to Rs 171.30 crore in the same period last year, registering a year-on-year decline of 29.39 per cent. Net revenue of the company rose marginally by 4.87 per cent at Rs 294.61 crore in April-June quarter of this fiscal as against Rs 280.94 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 8.41 per cent to Rs 120.09 crore from Rs 110.77 crore in year ago period. Other Income dipped by 110.94 per cent at Rs -6.70 crore versus (Jun'21 Rs 61.27 crore). Operating Profit surged by 2.56 per cent to Rs 174.52 crore as against Rs 170.17 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.20 per cent in June quarter. Interest grew by 1.09 per cent y-o-y to Rs 0.93 crore, while Taxation decreased by 24.54 per cent at Rs 39.29 crore (Jun'21 Rs 52.07 crore).
