Mid-size company Nippon Life India Asset Management closed today with a market valuation of ₹14,691.67 Cr. The Nippon India Mutual Fund's (NIMF) assets are managed by Nippon Life India Asset Management Limited (NAM India). Today, the company announced its Q4FY23 earnings and final dividend for its eligible shareholders.
“The Board has also recommended a final dividend of Rs. 7.50/- per Equity Share of Rs. 10/- each for the financial year ended March 31, 2023, for the approval of the shareholders at the ensuing Annual General meeting. With this the total dividend for the financial year 2022-23 would be Rs. 11.50/-, including the interim dividend of Rs. 4.00 per equity share distributed in November 2022. The record date to determine those shareholders who will be eligible to receive the payment of final dividend, subject to shareholder’s approval, will be Friday, June 30, 2023. The payment date for final dividend will be on and from July 19, 2023," said Nippon Life India Asset Management in a stock exchange filing today.
The company said its total income was Rs. 388 crore during Q4FY23 as against Rs. 372 crore in Q4 FY22 and operating profit was stable at Rs. 200 crore, the same as Q4 FY22. Profit after Tax was Rs. 198 crore during the quarter ended March 2023 as against Rs. 175 crore in the year-ago quarter.
Assets under management at NAM India were Rs. 3,62,981 Cr. as of March 31, 2023, with an average of Rs. 2,93,159 Cr., a growth of 3.5% YoY and flat QoQ. For the quarter ended March 31, 2023, the share of equity assets grew to 44% of NIMF's AUM from 42% on March 31, 2022, and its retail assets, which were worth Rs. 85,361 crore and contributed 29% to NIMF's AUM compared to the industry average of 25%. The systematic book of the firm rose by 52.0% YoY to Rs. 1,115 crore, resulting in an annualised systematic book of nearly Rs. 13,380 crore. With an AUM of Rs. 70,024 crore and a market share of 13.74% in Q4FY23, NIMF is one of the largest ETF operators.
Mr. Sundeep Sikka, ED & CEO, NAM India, said “We exhibited strong growth in various segments, particularly in Individual AUM - both Retail and High Networth Individuals, systematic investments, business from Beyond 30 (B-30) cities. We are humbled and honoured to have the trust of 1.35 Crore investors, highest in the Industry. We continue to focus on granular execution, profitable growth and future-ready strategies, striving to deliver superior experience and sustainable returns to our investors."
The shares of Nippon Life India Asset Management closed today on the BSE at ₹235.75 apiece level.
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ABOUT THE AUTHOR
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 25 Apr 2023, 09:06 PM IST
