Nippon India Mutual Fund PBT down 2% in July-September quarter, net up 20%

Fund house holds on to its position in retail segment and beyond top-30 cities

Nippon India Mutual Fund (NIMF) on Thursday reported a profit before tax (PBT) of Rs 158 crore for the September quarter of 2019-20. This was down two per cent from the same quarter last year. The company’s net profit was up 20 per cent on a year-on-year (YoY) basis at Rs 136 crore.

Owing to outflows from debt-oriented schemes, the fund house saw its overall asset base shrinking 17 per cent to Rs 2.02 trillion in September quarter. However, it held on to its position in retail and smaller cities. In the retail segment, it has an asset base of Rs