Nippon Life AMC reports highest ever quarterly PAT of `2.95 bn in Q3

Mumbai: Nippon Life India Asset Management, asset manager of Nippon India Mutual Fund (NIMF), announced its financial results for the quarter ended December 31, 2024.

Sundeep Sikka, ED & CEO, NAM India, said “We witnessed continued increase in overall market share with key positives being Net Sales and SIP market share remaining above Equity market share as well as increase in SIP flows despite adverse market movements. We are humbled to have the trust of 20.0 mn unique investors i.e. over 1 in every 3 mutual fund investors – highest in the Industry.”

Total Income of the company stood at Rs 6.03 bn ($70 million) as against Rs 6.92 bn in Q2 FY25. The firm reported Operating Profit of Rs 3.76 bn ($ 44 million) as against Rs 3.65 bn in Q2 FY25.

NIMF’s Profit after Tax (PAT) stood at Rs 2.95 bn ($ 34 million) as against Rs 3.60 bn in Q2 FY25.

As on December 31, 2024, NAM India’s assets under management stood at Rs 6.56 trillion ($ 76.7 billion).

For the quarter ended December 31, 2024, NIMF’s average assets under management stood at Rs 5.70 trillion ($66.6 billion) – an Year-on-Year (YoY) increase of 51 per cent and a Quarter-on-Quarter (QoQ) jump of 4 per cent.

For the quarter ended December 31, 2024, share of Equity Assets rose to 51.1 per cent of NIMF’s AUM as against 48.6 per cent as of December 31, 2023.

NIMF has one of the largest retail assets in the Industry, at Rs 1.78 trillion ($ 20.7 billion). Retail assets contributed 31 per cent to NIMF’s AUM vs Industry average of 27 per cent.

High Networth Individual (HNI) AUM at Rs 1.69 trillion ($ 19.8 billion) – up 50 per cent YoY & market share growth of 58 bps YoY.

Corporate AUM was Rs 2.31 trillion ($ 27.0 billion) - up 45 per cent YoY & market share growth of 84 bps YoY

NIMF’s AUM from ‘Beyond the Top 30 cities’ (B-30) stood at Rs 1.18 trillion ($ 13.8 billion) – higher by 49 per cent YoY. This forms 20.4 per cent of NIMF’s AUM vs. 18.5 per cent for the Industry.

The company’s quarterly systematic flows rose by 67 per cent YoY to Rs 99.1 bn ($ 1.2 billion). This increase resulted in an annualised systematic book of Rs 404 bn

($ 4.7 billion).