Nippon India Life Asset Management Company has reported a four per cent increase in net profit for the December quarter, reaching ₹295 crore compared to ₹284 crore in the same period last year. Revenue from operations also saw growth, rising by 11 per cent to ₹588 crore from ₹530 crore.
The company’s employee cost went up by 20 per cent to ₹106 crore, while other expenses increased by 28 per cent to ₹77 crore. Overall, the asset under management of the fund house surged by 51 per cent to reach ₹5.70 lakh crore. The share of equity assets also rose to 51 per cent from 49 per cent in the previous year. Additionally, passive funds accounted for 26 per cent of the total assets, while debt and liquid funds saw a decrease to 15 per cent and 7 per cent respectively.
In terms of Systematic Investment Plan (SIP) growth, the company reported a significant increase, with the SIP book reaching ₹9,910 crore in the December quarter compared to ₹7,530 crore in the previous quarter. Sundeep Sikka, ED & CEO, NAM India, noted that the fund house continued to see growth in overall market share, with net sales and SIP market share remaining strong despite adverse market conditions.
The retail assets of the fund house amounted to ₹1.78 lakh crore, representing 31 per cent of its AUM, higher than the industry average of 27 per cent. The company remains optimistic about its performance and market share in the coming quarters.
Published on January 23, 2025.
