Nippon Life India AMC on Monday reported a 16% year-on-year rise in net profit at Rs 182 crore for the first quarter (Q1) of FY 2022. Last financial year, the company had reported a profit of Rs 165 crore for the same quarter.
The profit is 9% higher when compared with the data from last quarter (Q4 FY 2021), when the AMC had posted a profit of Rs 167 crore.
During the period, the company's revenue went up 10% to Rs 369 crore as compared to Rs 336 crore a year ago.
Sundeep Sikka, ED & CEO, NAM India, said: "In this quarter, we increased our market share and overall investor base, led by a keen retail-driven approach, robust product suite and, dedicated efforts to grow across all asset categories".
The AMC said its average assets under management (AAUM) for Q1 was Rs 2.4 lakh crore, which is 13% higher than same quarter last year. Of this figure, 28% (Rs 99,579 crore) is retail AUM. The company’s unique investor base went up by 14 lakh in a year to 75 lakh at the end of June 2021.