Reliance Nippon Life March qtr profit rises over 34 pc to Rs 151 cr
Reliance Nippon Life Asset Management (RNMA) Monday posted a rise of 34.16 per cent in consolidated net profit at Rs 151.08 crore for the quarter ended March 31, 2019.
The company had logged a profit of Rs 112.61 crore in the same quarter a year ago, according to a BSE filing.
Total income fell to Rs 397.49 crore from Rs 440.19 crore in March quarter 2018, RNAM, asset manager of Reliance Mutual Fund, said.
For the entire 2018-19 financial year, the company's net profit was Rs 486.09 crore, as against Rs 455.74 crore in the previous year.
As on March 31, 2019, RNAM's assets under management was Rs 4,22,149 crore, an increase of 7 per cent year-on-year, it added.
"Mutual fund industry remains underpenetrated and presents a huge untapped potential. Industry faced multiple headwinds during the year due to regulatory changes, market volatility and credit events. However, post elections, we expect much stronger growth.
"Our focus continues to be on retail assets. In FY'19, retail assets ...