UTI Asset Management Company announced a 14 per cent decline in net profit for the December quarter, with profits falling to ₹174 crore from ₹203 crore in the same period last year. The decrease was mainly attributed to lower income and higher expenses. Revenue also dipped by seven per cent to ₹420 crore from ₹450 crore, while expenses rose to ₹199 crore from ₹189 crore.
However, the total group AUM saw an 18 per cent increase, reaching ₹20.77 lakh crore. The average AUM for mutual funds in the quarter grew by 29 per cent to ₹3.52 lakh crore. Equity and hybrid AUM also experienced positive growth, with equity AUM up 21 per cent at ₹96,988 crore and hybrid AUM up 29 per cent at ₹31,808 crore.
Passive funds saw a significant 43 per cent increase in assets, reaching ₹1.49 lakh crore from ₹1.04 lakh crore, while fixed income assets rose by 24 per cent to ₹34,371 crore from ₹27,760 crore.
During the quarter, SIP gross inflows amounted to ₹2,202 crore, with SIP AUM increasing by 29 per cent to ₹38,366 crore. Imtaiyazur Rahman, Managing Director & Chief Executive Officer of UTI AMC, highlighted the positive trend in AUM growth and SIP inflows over the past year. To further expand its reach, the company has opened 68 new branches in smaller cities across the country.
Rahman also expressed confidence in India’s resilient economy and the government’s efforts to strengthen its position as one of the world’s largest economies. Overall, despite the decrease in net profit, UTI AMC remains optimistic about the future.
