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Nippon India Mutual Fund has reported that its net profit in the June quarter was up 17 per cent at ₹182 crore against ₹156 crore in the same period last year, primarily due to higher income and lower cost.
During the quarter under review, income was up 10 per cent at ₹369 crore (₹336 crore).
The average quarterly asset under management was up 33 per cent at ₹2.40 lakh crore against ₹1.80 lakh crore logged in June 2020.
Equity asset increased to 44 per cent (38 per cent), debt was higher at 30 per cent (29 per cent), while liquid fell to 12 per cent (19 per cent), ETFs increased to 17 per cent (14 per cent) of overall AUM.
Equity average AUM was up at ₹1.29 lakh crore (₹87,100 crore) while that of fixed income was higher at ₹1 lakh crore (₹86,300 crore).
Înflows through systematic investment plan was lower at ₹590 crore ( ₹670 crore).
Sundeep Sikka, ED & CEO, NAM India, said the market share and overall investor base have increased, led by a keen retail-driven approach, robust product suite and dedicated efforts to grow across all asset categories.
By successfully integrating the tenets of ESG with responsible investment and building a formidable digital presence, the fund house is confident of regaining market position, he added.
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