NAM India Q3 Profit Rises 4% to Rs 295 cr | Business News
Nippon Life India Asset Management (NAM India) reported a 4% increase in profit after tax to Rs 295.4 crore for the quarter ended December 2024. Revenue also saw a significant rise.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jan 23 (PTI) Nippon Life India Asset Management (NAM India) on Thursday reported a 4 per cent increase in profit after tax to Rs 295.4 crore for three months ended December 2024.
The company had a profit after tax (PAT) of Rs 284.3 crore in the year-ago period, NAM India said in a regulatory filing.
Revenue from operations rose by 39 per cent to Rs 587.9 crore during the period under review from Rs 423.3 crore for the third quarter ended December 31, 2023.
"We witnessed a continued increase in overall market share with key positives being net sales and SIP (Systematic Investment Plan) market share remaining above equity market share as well as an increase in SIP flows despite adverse market movements.
"We are humbled to have the trust of 20 million unique investors, i.e. over 1 in every 3 mutual fund investors, highest in the industry," Sundeep Sikka, ED & CEO of NAM India, said.
As of December 2024, NAM India has assets under management of Rs 6.56 lakh crore, including Nippon India Mutual Fund of Rs 5.7 lakh crore.
The company had a profit after tax (PAT) of Rs 284.3 crore in the year-ago period, NAM India said in a regulatory filing.
Revenue from operations rose by 39 per cent to Rs 587.9 crore during the period under review from Rs 423.3 crore for the third quarter ended December 31, 2023.
"We witnessed a continued increase in overall market share with key positives being net sales and SIP (Systematic Investment Plan) market share remaining above equity market share as well as an increase in SIP flows despite adverse market movements.
"We are humbled to have the trust of 20 million unique investors, i.e. over 1 in every 3 mutual fund investors, highest in the industry," Sundeep Sikka, ED & CEO of NAM India, said.
As of December 2024, NAM India has assets under management of Rs 6.56 lakh crore, including Nippon India Mutual Fund of Rs 5.7 lakh crore.
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