Nippon Life India Asset Management (NAM-INDIA) Q4 16/17 earnings summary

Executive summary

• FY2016-17 consolidated gross income was Rs 14,359,148,829 and net profit was Rs 4,019,640,921; both exceeded FY2015-16.

• RMF QAAUM rose 33.1% to Rs 210,891 crore; total managed assets across mutual funds, PMS, pension funds and offshore strategies were Rs 3,55,800 crore.

Financial highlights

• Consolidated gross income was Rs 14,359,148,829 vs Rs 13,138,198,886; profit before tax was Rs 5,813,129,696 vs Rs 5,023,996,209.

• Consolidated net profit was Rs 4,019,640,921 vs Rs 3,764,335,088; standalone net profit was Rs 4,047,750,714 vs Rs 3,701,754,221.

• Standalone total revenue was Rs 14,004,372,147 vs Rs 12,710,696,654; revenue from operations was Rs 12,696,333,003 vs Rs 11,641,971,646.

Outlook and guidance

• FY2017-18 economic activity was expected to pick up, particularly in emerging and developing economies; India’s recovery was supported by fiscal stability, reforms and government spending.

• Growth priorities included retail and geographic expansion, investor education, product innovation, distribution reach and further development of digital platforms.

• PMS planned to pursue equity portfolio and advisory opportunities, while the alternative investment business targeted profitable growth and additional asset classes.