Reliance Nippon Life Asset Management's (RNAM) profit after tax (PAT) rose 27 per cent to Rs. 103 crore for the first quarter ended June 30, 2017.
The company’s revenues stood at Rs. 378 crore in the April-June quarter of the ongoing fiscal, registering a growth of 23 per cent over the year-ago period.
Reliance Nippon Life Asset Management is the asset manager of Reliance Mutual Fund, which is the third largest player in 42-member strong mutual fund industry. It has a market share of 11.42 per cent.
“The company continues to strengthen its position by reaching out to the masses and by growing even in B15 cities.
Our focus will be to create wealth for investors and a long-term profitable growth for the company,” RNAM CEO Sundeep Sikka said in a statement today.
