Nippon Life India Asset Management Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Nippon Life India Asset Mgt. will hold a meeting of the Board of Directors of the Company on 24 April 2024.

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Nippon Life India Asset Management has allotted 6,31,603 equity shares under ESOP on 12 March 2024. Accordingly, the paid up equity share capital has increased to 62,99,98,730 equity shares of face value Rs.10/- each.

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Nippon Life India Asset Management announced that Nilufer Shekhawat, Company Secretary (Key managerial personnel of the Company), has tendered her resignation.

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Total income jumped 27.57% to Rs 530.39 crore in Q3 FY24 as against Rs 415.74 crore during the previous quarter ended December 2022.

Total expenses jumped 15.39% to Rs 172.34 crore in Q3 FY24 as compared with Rs 149.35 crore in Q3 FY23. Finance cost stood at Rs 1.66 crore (up 53.70% YoY) and employee benefit expense was at Rs 87.45 crore (up 17.09% YoY) during the period under review.

Profit before tax (PBT) surged to Rs 358.10 crore in the December quarter as against Rs 266.30 crore recorded in Q3 FY23.

Core operating profit stood at Rs 251 crore in Q3 FY24, up 23% from Rs 204.40 crore posted in Q3 FY23.

As on 31 December 2023, NAM India’s assets under management stood at Rs 4.81 lakh crore (US$ 57.9 billion). NIMF’s average assets under management stood at Rs 3.78 lakh crore ($45.4 billion), up 29% YoY.

During the quarter, share of equity assets rose to 48.6% of NIMF’s AUM as against 44.5% as on 31 December 2022. Individual AUM (retail + HNI) was at Rs 2,35,200 crore ($28.3 billion) - an increase of 12% QoQ. This segment contributed 60% to NIMF’s AUM.

NIMF is one of the largest ETF players with AUM of Rs 92,900 crore ($11.2 billion) and a market share of 15.36%.

NAM India is the asset manager of Nippon India Mutual Fund (NIMF). The company is involved in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates.

The scrip rose 0.11% to Rs 524 on the BSE and it also hit a 52-week high at Rs 530 in today’s intraday session.

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