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Reliance Nippon Life Asset Management has reported 12% growth in the net profit to Rs 114.43 crore in the quarter ended September 2018 (Q2FY2019). The operating profit of the company rose 3% to Rs 137.83 crore, while other income was flat at Rs 32.89 crore in Q2FY2019. The depreciation moved up 4% to Rs 8.68 crore, allowing the profit before tax to rise 2% to Rs 162.04 crore. The effective tax dipped to 30.1% in Q2FY2019 from 34.6% in Q2FY2018. The net profit increased 12% to Rs 114.43 crore in Q2FY2019.
Business highlights:
Assets under management rose 6% to Rs 404870 crore end September 2018 over September 2017. Mutual Fund assets under management (QAAUM) also moved up 6% to Rs 244843 crore end September 2018.
Reliance MF has leadership position in Retail Assets at Rs 83721 crore, while added highest retail assets i.e. Rs 20070 crore in the industry since September 2017.
Equity Assets (as a proportion of MF assets) grew from 31% to 37% as on September 2018 (QAAUM basis) as Reliance MF continues to focus on high yielding assets.
Reliance MF has AUM of Rs 41305 crore from 'Outside the Top 30 cities' category as on September 2018 (17% of overall MF AUM).
Over 29 lakh Folios with annualised SIP book of approx Rs 10200 crore as on September 2018.
Digital Purchase transactions rose to 1.87 lakh in Q2FY19 up 36%.
One of the largest ETF players with 14% market share (in terms of OAAUM).
Reliance AIF has a total commitment of approx Rs 2400 crore across various schemes and has launched the fourth equity fund.
The company has a pan India presence across 298 locations and over 71100 empanelled distributors.
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