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Nippon Life India Asset Management Company has reported that its net profit was down 6 per cent in the September quarter at ₹ 324 crore against ₹345 crore logged in the same period last year, largely due to one-time provision and lower returns from investments.

Revenue was up 21 per cent at ₹796 crore (₹ 658 crore) while other income dipped 38 per cent at ₹23 crore (₹ 37 crore). Other income includes revenue outside the core business such earnings from investments, dividends, gain/loss on investments among others.

The fund house has declared a dividend of ₹9.50 a share and fixed record date as October 28. The dividend will be paid on November 5, it said.

Nippon Life India AMC has made a provision of ₹97 crore towards settlement for alleged non-compliance with certain provisions of securities laws on investments made by certain schemes of Nippon India Mutual Fund in AT-1 bonds issued by Yes Bank. It has received SEBI approval to settle the issue.

The average quarterly asset under management of the fund house increased 9 per cent to ₹7.87 lakh crore (₹ 6.56 lakh crore) with equity asset accounting for 47.7 per cent (47.7 per cent) and ETFs adding up to 31.6 per cent (27.9 per cent). Debt contribution was down to 11.8 per cent (15.5 per cent) while that of liquid funds was flat at 6.7 per cent (6.6 per cent).

The Systematic transaction in the quarter under review was flat at ₹3,720 crore against ₹3,680 crore in June quarter.

Alternative investments have raised a commitment of ₹9,980 crore (₹8,720 crore) across public equity, real estate, private credit and venture capital.

It has registered Japanese inflow of ₹430 crore (₹270 crore) in India through GIFT City.

Nippon Life India AMC investment book was down at ₹4,098 crore against ₹ 4,527 crore in June quarter, largely due to fall in value of investments in debt and equity.

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