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UTI Asset Management Company has reported that its net profit in the June quarter was down 39 per cent at ₹94 crore against ₹155 crore logged in the same period last year largely due to lower income.
Revenue from operation dipped 12 per cent to ₹306 crore (₹346 crore). Expenses increased to ₹200 crore (₹156 crore).
Its average AUM of mutual fund business increased 20 per cent to ₹2.24-lakh crore (₹1.87-lakh crore) and other average AUM of ₹11.57-lakh crore. The overall average AUM increased to ₹13.81-lakh crore (₹12-lakh crore).
Equity average AUM was up 23 per cent at Rs 66,693 crore (Rs 54,009 crore) while that of hybrid was up 9 per cent at Rs 25,702 crore (Rs 23,471 crore).
Income average AUM was down 34 per cent at Rs 14,363 crore (Rs 21,874 crore) while that of liquid funds increased 21 per cent to Rs 52,322 crore (Rs 43,184 crore).
Inflow through SIP in June was up at Rs 525 crore (Rs 348 crore).
Imtaiyazur Rahman, Managing Director & CEO, UTI AMC said despite the volatility and fall in market valuation, the mutual fund industry has observed an increase in investors’ interest.
The fund house has demonstrated a consistent growth in its Assets under Management and endeavour to grow business by offering competitive investment opportunities to investors, he added.
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