Reliance Nippon Life Q1 profit climbs 13% to Rs 125.4 crore; AUM grows 6%

Reliance Nippon Life Q1 profit climbs 13% to Rs 125.4 crore; AUM grows 6%

Reliance Nippon LifeQ1 results: Consolidated total income declined by 15.09 per cent to Rs 360.41 crore in Q1FY20, as against Rs 424.46 crore in Q1FY19

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Reliance Nippon Life Q1 results: RNAM's assets under management was Rs 4,30,661 crore, a YoY increase of 6%Reliance Nippon Life Q1 results: RNAM's assets under management was Rs 4,30,661 crore, a YoY increase of 6%
BusinessToday.In
  • Jul 29, 2019,
  • Updated Jul 29, 2019 10:12 PM IST

Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, on Monday reported 12.91 per cent year-on-year growth in its consolidated net profit at Rs 125.40 crore for the first quarter ended June 30, 2019.

"The company, a joint venture between Anil Ambani-led Reliance Capital and Japan's Nippon Life Insurance Company, had posted a net profit of Rs 111.06 crore in the April-June quarter of the previous year," RNAM said in a filing to the Bombay Stock Exchange.

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Consolidated total income, however, declined by 15.09 per cent to Rs 360.41 crore in Q1FY20, as against Rs 424.46 crore in Q1FY19.

The operating profit increased to Rs 145.20 crore versus Rs 132.80 crore in the year-ago period, while operating expenses declined to Rs 179.90 crore as against Rs 261.70 crore in the same quarter last fiscal.

During the quarter under review, RNAM's assets under management was Rs 4,30,661 crore, a YoY increase of 6 per cent. MF assets under management (QAAUM) stood at Rs 2,22,576 crore, the company said.

The company's equity assets, including ETF were at Rs 1,15,746 crore, a growth of 19 per cent on a yearly basis.

Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, on Monday reported 12.91 per cent year-on-year growth in its consolidated net profit at Rs 125.40 crore for the first quarter ended June 30, 2019.

"The company, a joint venture between Anil Ambani-led Reliance Capital and Japan's Nippon Life Insurance Company, had posted a net profit of Rs 111.06 crore in the April-June quarter of the previous year," RNAM said in a filing to the Bombay Stock Exchange.

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Consolidated total income, however, declined by 15.09 per cent to Rs 360.41 crore in Q1FY20, as against Rs 424.46 crore in Q1FY19.

The operating profit increased to Rs 145.20 crore versus Rs 132.80 crore in the year-ago period, while operating expenses declined to Rs 179.90 crore as against Rs 261.70 crore in the same quarter last fiscal.

During the quarter under review, RNAM's assets under management was Rs 4,30,661 crore, a YoY increase of 6 per cent. MF assets under management (QAAUM) stood at Rs 2,22,576 crore, the company said.

The company's equity assets, including ETF were at Rs 1,15,746 crore, a growth of 19 per cent on a yearly basis.

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