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UTI AMC Q4 net down 60% on higher expenses

BL Mumbai Bureau | Updated on: Apr 27, 2022
Imtaiyazur Rahman, Chief Executive Officer, UTI AMC

Imtaiyazur Rahman, Chief Executive Officer, UTI AMC

The AMC’s income has risen 4 per cent to ₹301 crore

UTI Asset Management Company has reported net profit in the March quarter dipped 60 per cent to ₹54 crore against ₹134 crore logged in same period last year, on back of higher employees benefit.

Income of the asset management company was up four per cent at ₹301 crore (₹289 crore). Employees benefit jumped 55 per cent to ₹115 crore (₹74 crore). Subsequently, overall expenses increased to ₹208 crore (₹138 crore).

Imtaiyazur Rahman, Chief Executive Officer, UTI AMC, said, the fund house registered an increase in its asset under management in this challenging environment and will strive to grow business across different asset categories.

Quarterly Average Asset Under Management of the fund house increased 22 per cent to ₹2.24 lakh crore (₹1.83 lakh crore). Equity asset jumped 36 per cent to ₹69,287 crore (₹50,751 crore) and hybrid asset increased to ₹26,444 crore (₹21,263 crore).

However, asset under income schemes dipped 26 per cent to ₹17,816 crore (₹24,092 crore) while liquid asset increased 11 per cent to ₹47,848 crore (₹43,062 crore).

The passive fund assets, including ETFs and index funds increased 47 per cent to ₹62,447 crore (₹42,581 crore).

Inflows through systematic investment plan increased 57 per cent in March to ₹531 crore against ₹339 crore in same period last year though inflows slipped to ₹474 crore in February. SIP asset was up 32 per cent to ₹18,311 crore (₹13,915 crore).

Published on April 27, 2022
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