Reliance Nippon Life Q1 net up 13%

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Updated: July 30, 2019 9:17:06 AM

Reliance Nippon Life Asset Management (RNAM) reported a 13% increase in its net profit to Rs 125.40 crore in the June quarter against Rs 111.06 crore in the corresponding previous quarter.

The fee and commission expense of the fund house for the first quarter of this fiscal stood at Rs 25.18 crore a drop of 62.22%

Reliance Nippon Life Asset Management (RNAM) reported a 13% increase in its net profit to Rs 125.40 crore in the June quarter against Rs 111.06 crore in the corresponding previous quarter. As on June 30, assets under management rose 6% year-on-year to Rs 4,30,661 crore.

The fee and commission expense of the fund house for the first quarter of this fiscal stood at Rs 25.18 crore a drop of 62.22%, taking the total expenses to Rs 179.87 crore against Rs 261.66 crore in corresponding previous quarter. Equity assets (including ETF) stood at Rs 1,15,746 crore, a y-o-y rise of 19%.

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