Nippon Life India Asset Management (NAM India) reported a consolidated net profit of Rs 167 crore in Q4 FY21 compared with net profit of Rs 4 crore in Q4 FY20.
Total income during the quarter increased by 142% year-on-year (YoY) to Rs 362 crore. Nippon Life India Asset Management is an asset manager of Nippon India Mutual Fund (NIMF).
For the quarter ended 31 March 2021, NIMF's average assets under management was Rs 2,28,586 crore, an increase of 12% year-on-year.
For the quarter ended 31 March 2021, share of equity assets rose to 40.6% of NIMF's AUM as against 39.1% for the quarter ended 31 December 2020. However, it is lower compared with 42% for the quarter ended 31 March 2020.
As on 31 March 2021, NIMF is one of the largest ETF players with AUM of Rs 37,372 crore and a market share of 13%.
NAM India's consolidated net profit jumped 64% to Rs 680 crore on 19% increase in total income to Rs 1,419 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
Sundeep Sikka, ED & CEO, NAM India, said: "In FY21, we continued our journey towards strong profitable growth, and remain focused on longer term returns, while expanding our investor base. I am very happy to state that NAM India recorded its highest-ever profit driven by robust asset growth, and better operating efficiencies.
By expanding our reach into growth-oriented geographies globally, we will enable domestic & foreign investors to achieve portfolio diversification and superior risk-adjusted returns."
The board has recommended a final dividend of Rs 5 per equity share for the financial year ended 31 March 2021.
Nippon Life India Asset Management is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including Exchange Traded Funds, managed accounts, including portfolio management services, alternative investments funds and pension funds; and offshore funds and advisory mandates. It also acts as an advisor for India focused equity & fixed income funds in Japan and in Thailand.
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