INSUBCONTINENT EXCLUSIVE:
New Delhi: Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, Tuesday reported 17 per cent decline in
consolidated net profit at Rs 109.52 crore in three months to December 2018.
In comparison, company logged a net profit of Rs 132.01 crore
in October-December 2017, RNAM said in a filing to stock exchanges.
The company's revenue from operations declined to Rs 349.85 crore in
December quarter 2018, from Rs 398.98 crore in year-ago period.
RNAM's assets under management (AUM) rose seven per cent to over Rs 4.14
lakh crore as on December 31, 2018 across mutual funds, pension funds, managed accounts and offshore funds.
Overall, company's mutual fund
asset base stood at Rs 2.36 lakh crore
This includes an AUM of Rs 42,864 crore from 'outside top 30 cities' category.
The company's board has declared an interim dividend of Rs
3 per share.
"With our value accretive investments in strong physical distribution network and digital space, we are clearly seeing results
of it.
"We are getting higher retail flows across smaller cities and towns and RNAM has emerged as a leader in terms of retail assets
We continue our focus on profitable growth and in state of readiness for incremental growth going forward," said RNAM CEO Sundeep
Sikka.
Shares of company closed at Rs 156.15 a piece on BSE, up 2.29 per cent from previous close.
