Nippon India AMC Q2 Earning Results
Earlier, Nippon India Mutual Fund has named as Reliance mutual fund. Nippon India AMC is the asset manager of the Nippon India Mutual Fund. A piece of news revealed that Nippon India AMC rises 20% profit in Q2. Mean, on Thursday, the NIMF has reported its second-quarter net profit increased as 20%. But, the profit before tax was down to 2% which was stood at Rs 158 crores. The net profit stood at Rs 137 crore in the September quarter.
According to the report, the Nippon India AMC operates assets worth of Rs 4,53,517 crore as on September 30, 2019. At the same time, the equity assets of NIMF raised from 37% to 43 percent.
It manages over 32 lakh SIP with an annualized book of Rs 10,200 crore. Moreover, the AMC observes 12 percent of increases as on a year-on-year basis.
The firm also observes an increase in digital purchase transactions. Nippon’s DPT (digital purchase transactions) raised by 54% to 3.69 lakhs and the new purchase transactions raised to 45%.
Reliance mutual fund is now Nippon India mutual fund. Nippon India AMC is the largest asset manager in India. The management team of NIMF remains dedicated to taking it to the next level of growth with the support of investors and shareholders. The official of the AMC said that it will continue to focus on the increase of market shares and profitability.