Nippon Life India Asset Management has reported that its net profit in the December quarter was down 18 per cent at ₹174 crore against ₹212 crore in the same period last year on lower other income.

Revenue from operations increased 26 per cent to ₹339 crore (₹268 crore). However, other income plunged to ₹30 crore (₹130 crore).

Growth in AUM

Quarterly average assets under management (AUM) increased 33 per cent to ₹2.81-lakh crore (₹2.13-lakh crore). Equity AUM was up 44 per cent at ₹1.20-lakh crore (₹83,200 crore).

Fixed income and liquid asset were up 12 per cent and 8 per cent at ₹76,300 crore (₹68,300 crore) and ₹32,700 crore (₹30,300 crore).

Inflow through systematic investment plan increased 14 per cent to ₹2,010 crore (₹1,770 crore) with a 38 per cent jump in AUMs to ₹50,700 crore.

Overall AUM was at ₹3.45-lakh crore including ₹59,000 crore managed accounts and ₹8,700 crore international business.

Sundeep Sikka, ED & CEO, NAM India, said overall market share grew by 22 basis points so far this fiscal with sustained value creation amid volatile market conditions, driven by focus on key fundamentals such as investor centricity, strong risk framework and a robust digitech infrastructure.

The fund house aims to provide suitable investment avenues to all spectrum of investors and leverage on key strengths in the passive and offshore businesses to provide access of differentiated products, he added.

comment COMMENT NOW