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Reliance Nippon Life Asset Management (RNAM) on Wednesday reported a consolidated net profit of ₹112 crore for the April-June quarter this fiscal, a growth of 3 per cent over the ₹109 crore recorded in the year-ago period. The company’s revenue from operations grew 7 per cent to ₹394 crore (₹368 crore).
RNAM, formerly Reliance Capital Asset Management, is the asset manager of Reliance Mutual Fund, manages (directly and indirectly) assets across mutual funds, pension funds, managed accounts, alternative investments and offshore funds.
Its assets under management (AUM) increased 12 per cent to ₹4.07 lakh crore as on June 30. Its AUM grew 8 per cent to over ₹2.4 lakh crore during the period.
Reliance MF’s assets of ₹39,056 crore came from outside the Top 15 cities category in the June quarter, an increase of 16 per cent from the year-ago period, the release added.
RNAM’s standalone net profit stood at ₹109 crore (₹104 crore), a growth of 4.8 per cent while total revenues climbed to ₹410 crore (₹401 crore), up 2.2 per cent.
“We continue to focus on sustainable profit growth and expanding return on equity. Despite volatile equity markets, inflows into systematic investment plans continue to remain strong indicating the confidence of retail investors. With our extensive reach and digital footprint, RNAM is well poised to capture a higher share of incremental growth,” the company’s CEO, Sundeep Sikka, said.
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