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Nippon Life India Asset Management (NAM India) reported 81% quarterly growth in its profit after tax. Its profits increased to Rs.213 crore in September 2022 compared to Rs.114 crore in June 2022.
However, the company has witnessed marginal decline of 4% if we compare its profits as against the corresponding period last year.
In terms of the latest quarterly Average AUM, Nippon India MF moved up two spots to be the fourth largest fund house.
Sundeep Sikka, ED & CEO, NAM India said, “We continue on our journey towards achieving profitable growth and creating long-term value for all stakeholders. While our MF AUM ranking moved up to fourth position in Q2, we are inspired and humbled by the fact that we have the largest investor base in the Industry with 1.9 crore folios.”
As on September 30, 2022, NAM has a geographical presence at 275 locations pan India. Notably, NAM India has commenced collaboration with the DWS group to increase global allocations into India.
