Nippon Life India - Cost Control, Higher Offshore Contribution To Support Earnings: Nirmal Bang
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Nirmal Bang Report
Nippon Life India Asset Management Ltd. reported 1.5% YoY growth in profit after tax for Q3 FY21 despite revenue declining 11.4% YoY.
The earnings performance was driven by a sharp decline in operating expenses; Ebitda was flat YoY.
Since the takeover by Nippon Life (Japan), we have seen significant recovery in business flows along with an improving cost structure.
The company’s consistent focus on cost optimisation and rationalisation over the last six to eight quarters has resulted in reduction across various expense heads.
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