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Nippon India MF sees 10% rise in PBT to Rs 199 cr in June quarter

Company had seen business recovery since ownership change, says it has onboarded more than 370 institutional investors after Reliance Capital exited

The Nifty rose 7.5 per cent in June, even as domestic MFs sold shares worth nearly Rs 4,000 crore
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The investor folios for exchange traded funds (ETFs) rose by 117,000 in June quarter.

Jash Kriplani Mumbai
Nippon India Mutual Fund (NIMF) has seen a 10 per cent jump in profit before tax (PBT) for June quarter, on a year-on-year basis.

The asset management company saw PBT of Rs 199 crore in June quarter. On a standalone basis, the company’s June quarter PBT improved by 7.8 per cent at Rs 192 crore.

The company had seen recovery in its business after Nippon Life took full ownership of the asset manager and Reliance Capital exited the company last year.

The asset manager in its disclosure pointed out that since the shareholding change, it has had more than 370

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First Published: Jul 27 2020 | 8:39 PM IST

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