Nippon Life India's Impressive Quarterly Gains

Nippon Life India Asset Management (NAM India) announced a notable 19% increase in profit after tax (PAT), reaching Rs 396.1 crore in the June quarter.

This financial advance follows a previous PAT of Rs 332.3 crore in the same period last year. The asset management company also reported a 20% growth in operational revenue, totaling Rs 606.6 crore, compared to Rs 505 crore in the corresponding quarter of the previous fiscal year.

Sundeep Sikka, ED & CEO, highlighted the robust double-digit equity net sales and SIP market share. Despite a dip in share prices, the firm's assets and industry trust remain steadily high, with its assets base standing at Rs 7.44 lakh crore by the end of the quarter.

(With inputs from agencies.)