Reliance Nippon Life Asset declares 5% interim dividend

Mumbai, Jan 16 : Reliance Nippon Life Asset Management Ltd on Tuesday said it closed the third quarter of the current fiscal with a net profit of Rs 130 crore and declared an interim dividend of Rs 5 per share.

In a statement issued here the company that manages the assets of Reliance Mutual Fund said it has posted a net profit of Rs 130 crore for the quarter ended December 31, 2017 logging a year-on-year growth of 25 per cent.

The company's revenue for the period under review stood at Rs 470 crore, a year-on-year growth of 31 per cent.

The Board of Directors had announced an interim dividend of Rs 5 per share.

"We continue our focus towards profitable growth and get the highest share of money into capital markets from retail investors and foreign investors coming into India," Sundeep Sikka, Executive Director and CEO was quoted as saying in the statement.

According to Sikka, during the past quarter the company has increased its presence in 89 new locations keeping up to the objective of getting continuous flows from smaller cities and towns.

As on December 31, 2017, assets under management were at Rs 3,87,871 crore.



Source: IANS