InvestorQ : What is the reason for the sharp fall in the profits of Nippon AMC in the March quarter?
Rutuja Nigam made post

What is the reason for the sharp fall in the profits of Nippon AMC in the March quarter?

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Arti Chavan answered.
1 year ago
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Nippon Life India Asset Management Company posted a 97.6% drop in net profits at Rs.3.72 crore for the Mar-20 quarter. Company’s revenues from operations also fell 20% to Rs.275 crore. The company took a huge write-off of Rs.125 crore on account of mark-to-market notional losses; largely on bad debt investments. The recent fiasco at Templeton has brought the spotlight on AMC stocks in general as the combination of COVID-19 and write-offs in debt portfolios could hit AMC stocks.

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