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UTI Asset Management Company has reported a 17 per cent increase in its June quarter net profit at ₹274 crore against ₹234 crore, reported year-ago same period, on the back of sharp rally in equity market. Revenue was up 13 per cent at ₹529 crore (₹468 crore).
The asset under manager under mutual fund business increased 25 per cent to ₹3.11 lakh crore against ₹2.48 lakh crore last year. Equity AUM was up 22 per cent at ₹88,606 crore while that of hybrid and fixed income jumped 30 per cent and 20 per cent to ₹27,397 crore and ₹29,724 crore.
Cash management asset was down 8 per cent at ₹37,744 crore (₹40,869 crore). Passive funds asset grew 44 per cent to ₹1.27 lakh crore (₹88,431 crore). SIP inflow increased 13 per cent to ₹624 crore against ₹554 core in same period. SIP AUM increased 45 per cent to ₹ 36,095 crore (₹24,920 crore).
Overall, asset managed by fund house increased to ₹19.36 lakh crore (₹16.13 lakh crore). Besides mutual fund, it has business interest in PMS, International business, Alternatives and PFL (one of the Pension Fund Managers appointed by Pension Fund Regulatory & Development Authority for managing Pension assets under the National Pension System.
Shares of UTI Asset Management Company closed one per cent higher at ₹1,026.75 on the BSE.
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