Nippon Life India Asset Management’s shares were up by 4.27 per cent after the company reported a 73.2 per cent increase in profit for the fiscal year ended 2024 at ₹342.63 crore compared to ₹197.74 crore during the corresponding period last year. However, the company’s revenues were down by 25.6 per cent to ₹348.34 crore compared with ₹468.27 crore last year. Sequentially, the company’s profits were lower by 30.3 per cent compared to ₹284 crore in the previous quarter.

The company reported growth in its assets under management (AUM), reaching ₹5.24-lakh crore($62.8 billion) as of March 31, 2024. For Nippon India Mutual Fund (NIMF), the average AUM stood at ₹4.31-lakh crore ($51.7 billion) for the quarter ended March 31, 2024, marking a 47 per cent increase y-o-y and a 14 per cent increase q-o-q.

The share of equity assets in NIMF’s AUM rose to 49.2 per cent, up from 44.4 per cent as of March 31, 2023. The company’s retail assets were reported at ₹1,335 billion ($16 billion), contributing 30 per cent to its AUM. Individual AUM stood at ₹2,578 billion ($30.9 billion), up by 10 per cent q-o-q, accounting for 58 per cent of NIMF’s AUM. Additionally, NIMF’s geographical presence expanded to 263 locations pan India, among the highest in the industry.

The shares were up by 4.27 per cent to ₹586 at 3:49 pm on the BSE.

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