Reliance Nippon Life Asset Management Q1 profit up 27%

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Mumbai, July 24 (IANS) Reliance Nippon Life Asset Management on Monday said its profit after tax increased by 27 per cent to Rs 103 crore for the first quarter ended June 30, 2017.

According to Reliance Nippon Life Asset Management, its revenues for Q1 FY18 stood at Rs 378 crore — up 23 per cent.

“The company continues to strengthen its position by reaching out to the masses and by growing even in B15 cities.

“Our focus will be to create wealth for investors and long-term profitable growth for the company,” Sundeep Sikka, Executive Director and CEO of Reliance Nippon Life Asset Management, said in a statement.

Reliance Nippon Life Asset Management, formerly Reliance Capital Asset Management, is the asset manager of Reliance Mutual Fund Schemes.

–IANS

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