Today, Nippon Life India Asset Management has skidded to Rs 280.05 after the company’s net profit dropped by 37 per cent to Rs 114.34 crore, and total income declined 18.9 per cent to Rs 299.37 crore in Q1 FY23 compared to the previous year. The asset manager of Nippon India Mutual Fund (NIMF) is Nippon Life India Asset Management. In the current year, the consolidated profit before tax stood at Rs 154.59 crore, down 34.5 per cent from Rs 236.03 crore in the previous quarter. Operating profit in Q1 FY23 was at Rs 171 crore, up by 1% YoY.

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At the end of June 2022, NAM India’s assets under management were Rs 3,30,684 crore ($41.9 billion). Also, NIMF’s overall AUM market share rose to 7.40 per cent. Moreover, the average assets under management of the company were Rs 2,79,431 crore ($35.4 billion), recording a growth of 16 per cent.

NIMF has one of the largest retail assets in the Industry, at Rs 74,101 crore. Retail assets contributed 27 per cent to NIMF’s AUM. However, Individual AUM stood at Rs 136,742 crore ($17.3 billion) and contributed 50 per cent to NIMF’s AUM.