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Reliance Nippon Life Asset Management, asset manager of Reliance Mutual Fund, has reported 27 per cent increase in December quarter net profit at ₹128 crore (₹101 crore).
Revenue from operations was up 24 per cent at ₹394 crore (₹319 crore). The board announced a maiden interim dividend of ₹5 per share post listing.
As on December 31, the assets under management of the mutual fund house were at ₹3.88 lakh crore. Reliance Mutual Fund had registered 23 lakh monthly systematic investment plans with annualised inflows of about ₹7,800 crore.
Equity assets, as a proportion of total assets, grew to 34 per cent from 27 per cent. The investment from beyond top 15 cities increased to 34 per cent to ₹50,815 crore. Post demonetisation, the fund house added highest retail assets of ₹27,075 crore. It manages retail assets worth ₹70,998 crore.
‘Committed to attract more’Sundeep Sikka, Executive Director & CEO, Reliance Nippon Life Asset Management, said the fund house is committed to attract more funds from beyond top 15 cities and increased presence in 89 new locations in smaller cities and towns.
On Tuesday, the shares of the company were down 4 per cent at ₹314, on the BSE.
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