homeeconomy NewsReliance Nippon Life Asset posts Rs 110 crore net profit for Q3

Reliance Nippon Life Asset posts Rs 110 crore net profit for Q3

Reliance Nippon Life Asset posts Rs 110 crore net profit for Q3
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By IANS  Jan 23, 2019 10:47:35 AM IST (Updated)

In a statement issued here the company said it had earned about Rs 350 crore revenue from operations for the quarter ended December 31, 2018.

Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, on Tuesday said it closed the third quarter of the current fiscal with a net profit of about Rs 110 crore.

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In a statement issued here the company said it had earned about Rs 350 crore revenue from operations for the quarter ended December 31, 2018.
The company board also declared an interim dividend of Rs 3 per share.
"With our value accretive investments in strong physical distribution network and digital space we are clearly seeing the results of it. We are getting higher retail flows across smaller cities and towns and RNAM has emerged as a leader in terms of retail assets. We continue our focus on profitable growth and in state of readiness for incremental growth going forward," Sundeep Sikka, ED & CEO was quoted as saying in the statement.
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