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.