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UTI Asset Management Company announced Q1FY25 results:

Financial Highlights:

• Revenue from operations for the April-June quarter stood at Rs 529 crore, up by 13% YoY and 27% QoQ.
• The core revenue from operations for Q1FY25 consisting entirely of sale of services amounted to Rs 337 crore, up by 19% YoY and 6% QoQ.
• Profit before tax for the first quarter of FY25 was at Rs 341 crore, up by 18% YoY and 56% QoQ.
• Core Profit before tax was Rs 144 crore for Q1FY25, up by 41% YoY and 25% QoQ.
• The quarterly profit after tax stood at Rs 254 crore in Q1FY25, up by 9% YoY and 56% QoQ.
• The core profit after tax for the first quarter (excluding income from investments and other nonoperating income) was Rs 117 crore, up by 39% YoY and 21% QoQ.
• The total AUM for UTI Asset Management Company stood at Rs 19,36,107 crore.

Business Highlights:

• As on 30th June 2024, UTI MF’s quarterly average assets under management (QAAUM) was Rs 3,10,697 crore.
• Equity Assets (Active Passive) contributed 78% to UTI MF’s total average AUM.
• The ratio of equity oriented QAAUM and non-equity oriented QAAUM is 78:22 vis-à-vis industry ratio of 71:29.
• Gross Inflow mobilized through SIP for the quarter ended 30th June 2024, stood at Rs 1,849 crore. SIP AUM as of quarter end stood at Rs 36,095 crore, an increase of 44.84% as compared to 30th June 2023.
• ~ 69,390 empaneled distribution partners across mutual fund distributors, national distributors and banks, serviced through a total of 190 UFCs, of which 137 are in B30 locations.
• Total live folios stood at 1.25 crore as on 30th June 2024.
• Digital purchase transactions rose to 37.84 lakh, an increase of 33.19% as against quarter ended 30th June 2023.
• UTI AMC has geographical presence in 698 districts in India, amongst the highest in the industry.

Commenting on the performance Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI AMC said, “In the last few years, Indian economy has shown remarkable resilience and has garnered global recognition. Keeping up with this momentum, Indian mutual fund industry has witnessed robust growth in the recent past making it amongst the most attractive investment avenues. As Indian MF industry surpassed yet another milestone of 60 trillion AUM by the end of June 2024, financial awareness and digitization have played crucial roles in this growth propelling it to unprecedented heights.

We, as pioneers, understand the responsibility that we shoulder towards our investors and partners and constantly endeavor to provide them with competitive investment solutions with best-in-class services. We believe that UTI AMC is suitably placed to capitalize on the opportunities in the MF industry’s expanding investment inflows and will continue creating value for our stakeholders backed by sustainable growth”.

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