Reliance Nippon Life Asset Management (RNAM) on Wednesday reported a 12 per cent growth in consolidated net profit at Rs 114.43 crore in the three months ended September 30, 2018.
In comparison, the company had a net profit of Rs 102.44 crore in July-September quarter of 2017-18, RNAM said in a regulatory filing to the stock exchanges.
The company’s total revenue rose to Rs 391.11 crore in the second quarter ended September 30, 2018 from Rs 386.79 crore in the same period last fiscal.
RNAM’s assets under management (AUM) increased by 6 per cent to Rs 4.05 lakh crore as on September 30, 2018, across mutual funds, pension funds, managed accounts and offshore funds.
Further, the company’s mutual fund assets base also climbed 6 per cent to over Rs 2.45 lakh crore during the period under review.
As on September 30, this year, the company has about 29 lakh SIP folios, with annualised book of Rs 10,200 crore.