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

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