Nippon Life climbs as Q1 PAT surges 40% YoY to Rs 332 crore

Nippon Life India Asset Management rallied 3.89% to Rs 659.25 after the company's consolidated net profit jumped 40.99% to Rs 332.33 crore in Q1 FY25 as compared with Rs 235.72 crore posted in Q1 FY24.

Total income climbed 34.98% year on year (YoY) to Rs 635.76 crore in the quarter ended June 2024.

Revenue from operations was at Rs 504.96 crore in Q1 FY25, registering a growth of 42.58% on YoY basis.

Profit before tax (PBT) surged 41.56% to Rs 438.75 crore in the June quarter from Rs 309.93 crore recorded in the corresponding quarter previous year.

Total expenses added 22.3% to Rs 197.01 crore in Q1 FY25 as compared with Rs 161.09 crore in Q1 FY24.

Core operating profit stood at Rs 308 crore in Q1 FY25, up 59.42% from Rs 193.2 crore recorded in Q1 FY24.

As on June 2024, NAM Indias assets under management stood at Rs 6.04 lakh crore ($ 72.4 billion). NIMFs average assets under management stood at Rs 4.84 lakh crore ($58.0 billion), up 54% YoY in Q1 FY25.

During the quarter, share of equity assets rose to 49.8% of NIMFs AUM as against 44.5 % as on 30 June 2023. Individual AUM (retail + HNI) was at Rs 2.98 lakh crore ($35.7 billion), registering a growth of 16% QoQ. This segment contributed 58% to NIMFs AUM.

NIMF has one of the largest retail assets in the industry, at Rs 1.54 lakh crore ($ 18.5 billion). Retail assets contributed 30% to NIMFs AUM as against industry average of 27%.

NIMF is one of the largest ETF players with AUM of Rs 1.30 lakh crore ($15.5 billion) and a market share of 17.79%.

Sundeep Sikka, ED & CEO, NAM India, said We continue to witness improvement in overall market share as well as across asset classes with a strong increase in equity market share. We are humbled to have the trust of 17.5 million unique investors i.e. 1 in every 3 mutual fund investors highest investor base in the Industry.

NAM India is the asset manager of Nippon India Mutual Fund (NIMF). The company is involved in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates.

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