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Illustration: Ajay Mohanty
Nippon Life India Asset Management Company (AMC) on Friday reported a net profit of Rs 332 crore for the first quarter (Q1) of the financial year (FY) 2025. The net profit is up 41 per cent compared to the same period last year (Q1 FY 2024). However, the profit is down 3 per cent compared to the previous quarter (Q4 FY 2024).
Revenue from operations went up 43 per cent year-on-year to Rs 505 crore. Total income rose 35 per cent to Rs 636 crore.
In a media release, the AMC said its average quarterly assets under management (AUM) stood at Rs 4.8 trillion in Q1, up 54 per cent year-on-year (Y-o-Y). The sharp surge in AUM led to a 93 basis points rise in its market share to 8.2 per cent, according to the AMC.
Sebi allows credit rating agencies, ERPs to operate in IFSCA
The Securities and Exchange Board of India (Sebi) on Friday enabled credit rating agencies (CRAs) and Environmental, Social, and Governance (ESG) rating providers (ERPs) to undertake rating activities in the International Financial Services Centre (IFSC) in Gift City. The market regulator added that any issue arising from the activities of these Sebi-registered entities in the IFSCA will be dealt with by the regulatory authority there. “IFSCA shall be responsible for dealing with complaints, enforcement actions, and furnishing information to third parties, including statutory or judicial bodies, in respect to the services provided by the CRAs in the IFSC,” said Sebi.
First Published: Jul 19 2024 | 5:20 PM IST
