UTI AMC’s Q2 profit declines 8%
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New Delhi: UTI Asset Management Company on Wednesday reported an 8 per cent decline in profit after tax to Rs 183 crore in the September quarter. It had posted a profit after tax of Rs200 crore in the same quarter of the preceding fiscal, according to a regulatory filing.
The company’s total revenue from operations dropped seven per cent to Rs 404 crore during the quarter under review. In the year-ago period, the same was at Rs435 crore. For the quarter ended September 30, 2023, UTI Mutual Fund’s average assets under management stood at Rs 2.67 lakh crore and it had a market share of 5.68 per cent.
Imtaiyazur Rahman, Chief Executive Officer of UTI AMC, said the Indian mutual fund industry has constantly worked towards building financial literacy in the country for creating awareness about various products and in enabling investors to make informed investment decisions.
“With our growing geographical and digital reach in the country and our expertise in investment management combined with a large suite of products, UTI is well placed to capitalise on the opportunities offered by the markets,” he added. UTI AMC is the investment manager of UTI Mutual Fund.
