Results: Nippon Life India Asset Management India posts Q4 PAT at Rs 167 crore/ Representational Image
Results: Nippon Life India Asset Management India posts Q4 PAT at Rs 167 crore/ Representational Image

Nippon Life India Asset Management (NAM India) on Tuesday reported a profit after tax of Rs 167 crore for the three months ended March 2021.

In comparison, the company had posted a profit after tax (PAT) of Rs 4.13 crore in the same quarter preceding fiscal, NAM India said in a statement.

The total income rose to Rs 362 crore in the quarter under review from Rs 149.56 crore in the year-ago period.

NAM India is the asset manager of Nippon India Mutual Fund (NIMF).

As of March 31, 2021, NAM India's assets under management stood at Rs 3,55,053 crore, including NIMF's assets of Rs 2,28,586 crore.

For the year ended March 31, 2021, the company's PAT was Rs 680 crore, an increase of 64 per cent from the preceding fiscal, while the total income rose 19 per cent to Rs 1,419 crore.

The company also announced its highest ever dividend of Rs 8 per share for 2020-21.

"In FY21, we continued our journey towards strong profitable growth, and remain focused on long term returns, while expanding our investor base. I am very happy to state that NAM India recorded its highest-ever profit-driven by robust asset growth, and better-operating efficiencies," Sundeep Sikka, ED & CEO, NAM India, said.

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