Nippon Life India Asset Management Company has reported that its net profit in the March quarter was up 73 per cent at ₹343 crore against ₹198 crore in the same period last year, on the back of sharp jump in asset under management (AUM).
Income increased 45 per cent to ₹561 crore (₹388 crore).
The fund house has declared a dividend of ₹11 per equity shares. The record date for dividend has been fixed as June 28 and it will be paid on July 16.
Average AUM up 47%
The average AUM of the fund house in March quarter increased substantially to ₹4.31-lakh crore, an increase of 47 per cent year-on-year.
The share of equity in average AUM increased to 49 per cent (44 per cent) and ETFs were up at 26 per cent (24 per cent). However, liquid and debt funds share slipped to 9 per cent (13 per cent) and 16 per cent (18 per cent).
Inflows through systematic investment more than doubled to ₹7,010 crore (₹3,220 crore) with the AUM increasing to ₹98,700 crore.
Nippon Life India AMC net profit in financial year was up at ₹1,107 crore (₹723 crore) in FY24, while income jumped to ₹2,037 crore (₹1,517 crore).
Shares of the company hit a 52-week high of ₹623, but closed with a gain of 4 per cent at ₹584 on Wednesday.