Nippon India AMC reports 18% YoY profit growth in Q3 to Rs 205 cr

Total income rises 5% to Rs 416 crore

Nippon Life India Asset Management Company (AMC) has reported a 18 per cent year-on-year jump in profits to Rs 205 crore in the third quarter of Financial Year 2023. The total income rose 5 per cent to Rs 416 crore.

“While Q3 was a volatile quarter with a positive bias from a macro standpoint, we grew our assets in the desired segments and increased profitability," said Sundeep Sikka, ED & CEO, Nippon Life India AMC.

The company's average assets under management (AUM) grew 4 per cent in the December quarter to Rs 2.9 trillion. The individual AUM increased 18 per