 "Nippon Life Insurance Company, Nippon India Mutual Fund, Reliance Mutual Fund\" renamed as Nippon India Mutual Fund - KAMLESH PEDNEKAR")
Nippon Life India Asset Management Company (AMC) on Monday reported a 39 per cent year-on-year (YoY) jump in net profit for the previous quarter (Q3) at Rs 284 crore. The revenue from operations went up 20 per cent YoY to Rs 423 crore.
Compared to the second quarter, the profit is up 16 per cent, while the revenue from operations has risen 6.5 per cent.
During the period, the AMC saw its share in the total mutual fund assets rising 21 basis points to 7.67 per cent, it said in a release. The flows through the systematic investment plan (SIP) route for Nippon India MF stood at Rs 5,930 crore in Q3, up 104 per cent YoY.
During the quarter, the AMC managed an average of Rs 3.8 trillion through its MF schemes. The amount is 29 per cent higher than in the same period last year. On the alternative investment fund (AIF) side, it had a total commitment of Rs 6,030 crore, the release stated.
Aditya Birla Sun Life AMC Q3 results: Profit grows 26% to Rs 209 crore
Aditya Birla Sun Life AMC on Monday reported a 26 per cent rise in its net profit to Rs 209.34 crore in the December quarter.
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In comparison, the company had posted a net profit of Rs 166.3 crore in the same quarter of the preceding fiscal, the asset management firm said in a regulatory filing.
Total income grew to Rs 420.96 crore in the quarter under review as against Rs 363.17 crore in the October-December period of the preceding fiscal (2022-23).
Aditya Birla Sun Life AMC, a joint venture between Aditya Birla Capital and Sun Life (India) AMC Investments Inc, is primarily the investment manager of Aditya Birla Sun Life Mutual Fund. It is one of the leading asset management companies in India.
Grasim rights issue fully subscribed
The rights issue of Grasim, which concluded on Monday, was subscribed more than two times. The issue got bids for 42 million shares against 22 million shares on offer. The Birla group firm had priced its Rs 4,000-crore issue at Rs 1,812 per share. Grasim's rights issue was the 10th largest in the domestic market. Shares of Grasim last closed at Rs 2,104, with a gain of 1.4 per cent.
