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Nippon Life India AMC Q3 Review – One Awaits Expected Improvement In Equity Business: Yes Securities

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nippon Life India AMC Ltd.’s revenue from operations at Rs 3,385 million was up 3.3%/26.1% QoQ/YoY, lagging the growth of quarterly average assets under management at 6%/32% QoQ/YoY.

Share of Equity in AUM (including hybrid funds) at 43% was flat QoQ but up 400 basis points YoY (calculated on rounded off figures). Share of B-30 in AUM at 18% was down 40 bps QoQ but flat YoY.

In overall AUM, the share of direct channel was 55%. Share of mutual fund distributors, banks and national distributors within distributed assets was 58%, 22% and 20%, respectively.

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Nippon Life’s operating profit margin for the quarter, at 62.7%, was up 372 bps QoQ and 793 bps YoY.

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