Reliance Nippon Q3 net profit at INR 130 crore

Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, announced its financial results for the quarter ended December 31, 2017. The

key performance highlights are:

Board announced maiden interim dividend of Rs. 5 per share post listing

Q3 Profit after tax at Rs. 130 crore (US$ 20 million) – a YoY increase of 25%

Q3 Revenues stood at Rs. 470 crore (US$ 73 million) – a YoY increase of 31%

As on December 31, 2017, assets under management were at 3,87,871 Crore(~US$ 61 bn), Total Mutual Fund asset under management (in term of QAAUM) was Rs.2,43,595 crore (US$ 37.47 billion) – a YoY increase of 24%

As on January 15, 2017, market cap stood at approx Rs. 20,000 crore (US$ 3.1 billion)

The Company will focus on its assets yielding high profitability. Equity Assets as a proportion of total assets grew from 27% to 34% since December 2017 (in term of QAAUM)

Post demonetisation, RMF has added highest retail assets i.e. Rs. 27,075 Crore.

“We continue our focus towards profitable growth and get the highest share of money into capital markets from retail investors and foreign investors coming into India. We continue our commitment to improve financial inclusion of B15 locations. In this quarter, we have increased our presence in 89 new locations keeping up to our objective in getting continuous flows from smaller cities and towns”, said Sundeep Sikka, ED & CEO, Reliance Nippon Life Asset Management Limited.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.