Nippon Life India Asset Management has reported that its net profit in the December quarter was up 18 per cent to ₹205 crore against ₹174 crore logged in the same period last year on robust SIP inflow from beyond top-30 cities. Revenue from operations increased to ₹354 crore (₹339 crore), while other income was up at ₹62 crore (₹Rs 30 crore). Overall expenses increased to ₹149 crore (₹133 crore).

The fund house’s average assets under management (AUM) was up four per cent at ₹2.93-lakh crore (₹2.81-lakh crore), while the share of equity assets rose to 44 per cent to ₹1.30-lakh crore (₹1.20-lakh crore). Its retail asset at ₹87,507 crore contributed 30 per cent of overall AUM.

Its average debt AUM fell to ₹53,200 crore (₹76,300 crore) and liquid asset was down at ₹41,100 crore (₹32,700 crore). Inflow through systematic investment plan was at ₹2,910 crore (₹2,010 crore)

Beyond top-30 cities

Nippon Life India AMC’s asset from beyond top-30 cities increased 15 per cent to ₹56,229 crore.

It has the largest investors base of 1.9 crore folios and added over 38 lakh folios since December 2021. Overall unique investors at 1.3 crore was up 33 per cent and individual investors’ AUM was up 18 per cent at ₹1.62-lakh crore.

Sundeep Sikka, ED & CEO, NAM India, said the fund house grew assets in the desired segments and profitability was driven by emphasis on “investors’ interest”, aided by better fund performance, strong risk management and granular distribution base.

Besides mutual fund, Nippon Life India Asset Management has managed accounts of ₹66,100 crore and international business of ₹9,300 crore.

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