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Nippon Life AMC Q4 results: Net profit rises 73%, revenue 35% up
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Nippon Life AMC’s revenue growth climbed by 34.5% to ₹468.3 crore as opposed to ₹348.3 crore recorded in the previous year.
Nippon Life Asset Management Company (AMC) has announced its fourth-quarter financial results. The company reported 73.2% rise in net profit to ₹343 crore compared to ₹198 crore in the same period last year.
The revenue growth climbed by 34.5% to ₹468.3 crore as opposed to ₹348.3 crore recorded in the previous year.
The company’s consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) further reached ₹291 crore compared to ₹209 crore in the previous year, marking a growth of 39.2% year-on-year (YoY).
Additionally, the consolidated margin stood at 62.1%, reflecting an improvement from the 60% reported YoY.
In a move to reward its shareholders, the Board of Directors has recommended a final dividend of ₹11.00 per equity share of ₹10 each for the financial year ended March 31, 2024.
With this final dividend, the total dividend for the financial year 2023-24 amounts to ₹16.50 per equity share, inclusive of the interim dividend of ₹5.50 per equity share distributed in November 2023.
Following the announcement, shares of Nippon Life AMC surged by over 10% to ₹623.40 apiece on the Bombay Stock Exchange (BSE).
At the time of writing this report, the stock was trading 3.99% higher at ₹584.45.
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