Nippon Life India AMC - Good Quarter; Protection Of Market Share Key: Centrum Broking
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Centrum Broking Report
Nippon Life India Asset Management Ltd.'s quarterly earnings were good on the operating level.
Revenue was better with higher yields led by improvement in equity share QoQ from 39% to 41%.
However, opex missed estimate due to higher other expenses driven by one-time costs related to digital and IT infrastructure.
The company is gaining its lost market share in debt and liquid funds and it added 350 institutional customers in FY21.
Yields are likely to moderate in the near term as assets under management increases.
FY21 market share dropped in systematic investment plan/AuM, though it could improve due to its pan-India distribution with a focus on retail.
This remains a monitorable.
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