 "Nippon Life Q4 up 5% to Rs 175 crore, FY22 PAT up 9% to Rs 744 crore")
Nippon Life India Asset Management (NAM) reported profit after tax (PAT) of Rs 175 crore during the quarter ended March 2022, compared with Rs 167 crore during the same period last year, registering a growth of 5 per cent.
PAT for the year ended March 2022 stood at Rs 744 crore, up 9 per cent over Rs 680 crore logged in preceding financial year.
During the year 2021-22, India’s asset management industry saw strong inflows into the equity schemes on the back of robust performance of domestic equity markets.
Sundeep Sikka, ED & CEO, NAM said “(The) March 2022 quarter was characterised by contrasting trends. On one hand, geopolitical concerns and higher inflation bias resulted in volatile global markets. However, investors’ inclination towards long-term value creation resulted in greater and stable flows for MFs. NAM India continued to be strongly profitable and strives to create value for all stakeholders.”
As on March 31, 2022, NAM India’s assets under management (AUM) were Rs 3.45 trillion. For the quarter ended March 31, 2022, Nippon India Mutual Fund’s overall AUM market share rose to 7.38 per cent - an increase of 26 basis points as against the quarter ended March 31, 2021.
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