Nippon Life India Q4 results: Net profit rises 73%, final dividend announced

Shares of Nippon Life India Asset Management gained 11% to hit their record high today after the AMC reported a 73.2% rise in net profit in Q4. Net profit climbed to Rs 343 cr in Q4 against Rs 198 crore in the Q4 of FY23. Revenue rose 34.5% to Rs 468.3 crore in Q4 against Rs 348.3 crore in the corresponding quarter of the previous fiscal. Market cap of the firm rose to Rs 36,825 crore. Nippon Life India Asset Management Shares gained 11% to a high of Rs 623.40 on BSE. Market cap of the firm rose to Rs 36,825 crore.  

The board also recommended a final dividend of Rs 11 per equity share of Rs 10/- each for the financial year ended March 31, 2024, for the approval of the shareholders at the ensuing annual general meeting. 

EBITDA climbed 39.2% to Rs 291 crore in Q4 for Nippon Life India against Rs 209 crore in the corresponding period OF the previous fiscal. EBITDA margin in the last quarter stood at 62.1% against 60% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Total 2.07 lakh shares of Nippon Life India Asset Management changed hands amounting to a turnover of Rs 12.34 crore. The share has gained 28.5% in 2024.

In terms of technicals, the relative strength index (RSI) of Nippon Life India stands at 64.9, signaling it's trading neither in the overbought zone nor in the oversold zone. The stock has a beta of 0.8, indicating low volatility in a year.  The stock is trading higher than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.

Nippon Life India Asset Management's principal activity is to act as an investment manager to Nippon India Mutual Fund and to provide Portfolio Management Services (‘PMS’) and advisory services to clients under Securities and Exchange Board of India.