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Nippon Life India Asset Management Company has reported that its net profit in the September quarter was up 18 per cent to ₹244 crore against ₹206 crore logged in the same period last year.
The fund house has announced an interim dividend of ₹5.50 per equity share and fixed the record date as November 9.
Income from operations increased by 20 per cent to ₹397 crore (₹332 crore). Other income was down five per cent to ₹78 crore (₹82 crore).
Overall expenses jumped 12 per cent to ₹164 crore (₹146 crore).
The Nippon India Mutual Fund’s (NIMF) average asset under management was up 23 per cent to ₹3.51-lakh crore.
Equity assets rose to 47 per cent of the NIMF’s AUM as of September-end, up from 44 per cent in the same period last year.
Retail assets
NIMF has one of the largest retail assets in the industry, at ₹1.10-lakh crore.
Retail assets contributed 30 per cent to the NIMF’s assets against the industry average of 26 per cent, it said. High Networth Individual AUM at ₹99,500 crore, up by ₹29,300 crore y-o-y. Individual AUM was ₹2.09-lakh crore.
NIMF’s asset from Beyond the top-30 cities was up at ₹71,900 crore and accounted for 19.9 per cent of NIMF’s AUM against 17.5 per cent of the Industry
SIP inflows
SIP inflows increased 38 per cent q-o-q to ₹4,720 crore. NIMF is one of the largest ETF players, with an AUM of ₹80,800 crore and a market share of 14 per cent.
Nippon India Alternative Investment Funds has a total commitment of ₹5,780 crore across various schemes.
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