NAM India quarterly profit falls 37 pc to Rs 114 crore
- Country:
- India
Nippon Life India Asset Management (NAM India) on Thursday reported a 37 per cent decline in profit after tax at Rs 114.1 crore for three months ended June.
In comparison, the asset management company had posted a Profit After Tax (PAT) of Rs 181.5 crore in the year-ago period, NAM India said in a regulatory filing.
The company's total income declined 19 per cent to Rs 299.37 crore in the quarter under review. It stood at Rs 369.2 crore in the same period preceding fiscal.
Sundeep Sikka, CEO NAM India, said, ''domestic economy as well as the mutual fund industry were impacted in Q1 due to macro headwinds''.
NAM India is the asset manager of Nippon India Mutual Fund (NIMF).
As on June 30, 2022, NAM India's assets under management was Rs 3.31 lakh crore, including NIMF's asset base of Rs 2.79 lakh crore.
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