ICICI Direct: Nippon Life India AMC Posts Steady Q2; Retail, Digital Focus Support Performance  
The portrait of Mahatma Gandhi is displayed on an Indian rupee note. (Photographer: Brent Lewin/Bloomberg)  

ICICI Direct: Nippon Life India AMC Posts Steady Q2; Retail, Digital Focus Support Performance  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Nippon Life India Asset Management Ltd. posted modest profit after tax growth of 6% YoY to Rs 145 crore on a consolidated basis as cost rationalisation and healthy growth in other income compensated for a decline in revenues.

Overall asset under management declined on a yearly basis but saw some improvement sequentially.

Mutual fund AUM fell marginally by 1% YoY on account of approximately 10% YoY reduction in equity AUM while debt and liquid AUM showed growth of 2% and 20% YoY, respectively.

Click on the attachment to read the full report:

ICICI Direct Nippon Life AMC Q2FY21 Result Update.pdf

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