Earnings Review
UTI AMC PAT rises 8% on year as AUM jumps 20%
This story was originally published at 19:36 IST on 25 July 2024
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By Siddhi Chauhan
--UTI AMC Apr-Jun consol revenue 5.29 bln rupees vs 4.68 bln
--UTI AMC Apr-Jun consol net profit 2.54 bln rupees vs 2.34 bln
MUMBAI – UTI Asset Management Co Ltd's net profit rose 8.4% from a year ago to 2.54 bln rupees in the June quarter on the back of a rise in assets under management. Sequentially, the company's net profit rose 56.2% due to a low base.
The assets under management of the fund house rose 20.0% from a year ago to 19.36 trln rupees as of Jun 30. Sequentially, the assets under management rose 4.7%. During the quarter, the UTI Mutual Fund's quarterly average assets under management rose 25.2% on year to 3.11 trln rupees. Equity assets, active and passive, contributed 78% of UTI Mutual Fund's total average assets under management.
The fund house's revenue from operations rose 13.1% on year to 5.29 bln rupees. On a sequential basis, the revenue increased 27.2%. The revenue was supported by the growth in its sales of services, which grew 19.1% on year to 3.37 bln rupees in Apr-Jun.
Gross inflows mobilised through systematic investment plans during the quarter were 18.49 bln rupees. Assets under management of systematic investment plans rose 44.8% on year to 360.95 bln rupees.
The company's total expenses in Apr-Jun rose by a moderate 6.8% on year to 1.92 bln rupees. The fund house's total live folios stood at 12.5 mln as of Jun 30, the company said.
The company's shares rose after the announcement of the results. The shares of the company ended 1.1% higher at 1,027.40 rupees on the National Stock Exchange.
UTI Asset Management Co is the investment manager of UTI Mutual Fund. The company's subsidiaries include UTI Retirement Solutions Ltd, UTI Capital Pvt Ltd, UTI Venture Funds Management Co Pvt Ltd, UTI International Ltd, and India Infrastructure Development Fund. End
Edited by Saji George Titus
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