UTI Asset Management has reported that its net profit more than doubled to ₹186 crore against ₹60 crore logged in same period last year.

Income increased 52 per cent to ₹449 crore (₹295 crore) on the back of ‘gain on fair value changes’ of ₹123 crore (nil) and interest income of ₹33 crore (₹8 crore). Income from services was up 2 per cent at ₹290 crore (₹284 crore).

The average asset under management was at ₹2.73 lakh crore with equity assets of 77 per cent. Gross inflow mobilised through SIP stood was at ₹ 1,695 crore with SIP AUM of ₹29,659 crore, witnessing an increase of 12 per cent compared to the September quarter.