Nippon India Asset Management Company reported that its June quarter net profit was up 41 per cent to ₹332 crore against ₹236 crore logged in the same period last year, on better operational performance.
Income increased 35 per cent to ₹636 crore (₹471 crore). Expenses jumped 22 per cent to ₹197 crore (₹161 crore) as employees benefit was up 33 per cent to ₹105 crore (₹79 crore).
The fourth largest fund house’s average asset under management in the quarter was up 54 per cent at ₹4.84 lakh crore. The equity asset base increased to 50 per cent against 44 per cent last year, while that of debt and liquid reduced to 15 per cent (20 per cent) and 8 per cent (11 per cent). ETF share increased to 27 per cent (23 per cent)
Its systematic flows more than doubled to ₹753 crore (₹343 crore).
Investors from B-30 cities increased to 10.3 million (7.8 million) while the B-30 asset increased to ₹99,900 crore (₹63,100 crore). Unique investors strength was up at 17.5 million (14.1 million). The fund house has financial assets of ₹4,304 crore (₹3,932 crore).
Sundeep Sikka, ED & CEO, NAM India said the overall market share of the fund house has increased across asset classes with a strong growth in equity market share.
“We have the trust of 17.5 million unique investors i.e. 1 in every 3 mutual fund investors – highest investor base in the industry,” he said.