Nippon Life India Asset Management Q1 Profit Up 41% to Rs 332 Cr

New Delhi, Jul 19 (PTI) Nippon Life India Asset Management (NAM India) on Friday reported a 41 per cent rise in profit after tax to Rs 332.3 crore in three months ended June 2024.

In comparison, the company posted a profit after tax (PAT) of Rs 235.7 crore in the year-ago period, NAM India said in a regulatory filing.

The company's revenue from operations rose 43 per cent year-on-year to Rs 505 crore in the June 2024 quarter from Rs 354.2 crore a year ago.

"We continue to witness improvement in overall market share as well as across asset classes - with a strong increase in equity market share. We are humbled to have the trust of 17.5 million unique investors i.e. 1 in every 3 mutual fund investors - highest investor base in the industry," Sundeep Sikka, ED and CEO of NAM India, said.

NAM India is the asset manager of Nippon India Mutual Fund (NIMF).

As of June 2024, NAM India's assets under management were at Rs 6 lakh crore, including NIMF's assets base of Rs 4.84 lakh crore.