Nippon India AMC Q1 profit up 41%; Sebi allows ERPs to operate in IFSCA

Nippon Life India Asset Management Company (AMC) on Friday reported a net profit of Rs 332 crore for the first quarter (Q1) of the financial year (FY) 2025. The net profit is up 41 per cent compared to the same period last year (Q1 FY 2024). However, the profit is down 3 per cent compared to the previous quarter (Q4 FY 2024).

Revenue from operations went up 43 per cent year-on-year to Rs 505 crore. Total income rose 35 per cent to Rs 636 crore.

In a media release, the AMC said its average quarterly assets under management (AUM) stood at Rs 4.8 trillion in Q1, up 54 per cent year-on-year (Y-o-Y). The sharp surge in AUM led to a 93 basis points rise in its market share to 8.2 per cent, according to the AMC.

Sebi allows credit rating agencies, ERPs to operate in IFSCA

The Securities and Exchange Board of India (Sebi) on Friday enabled credit rating agencies (CRAs) and Environmental, Social, and Governance (ESG) rating providers (ERPs) to undertake rating activities in the International Financial Services Centre (IFSC) in Gift City. The market regulator added that any issue arising from the activities of these Sebi-registered entities in the IFSCA will be dealt with by the regulatory authority there. “IFSCA shall be responsible for dealing with complaints, enforcement actions, and furnishing information to third parties, including statutory or judicial bodies, in respect to the services provided by the CRAs in the IFSC,” said Sebi.

MF AUM on track to hit Rs 100 trillion in 2-3 years: ICRA Analytics

The mutual fund industry, which currently manages around Rs 61 trillion, is on track to surpass the Rs 100-trillion assets under management (AUM) mark in the next two to three years, ICRA Analytics said in a report. The industry has added a record Rs 10.38 trillion to AUM in a span of six months since December 2023.  "The resilience of the Indian financial market and improved growth prospects of the Indian economy is boosting investor confidence leading to increased participation of retail investors. This is auguring well for the mutual fund industry, which has been witnessing a robust growth in inflows and a surge in contribution through the SIP route," said Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics. The total SIP contributions for the first half of 2024 stood at Rs 1.2 trillion, the report noted.