UTI AMC Q1 Profit Up 9% to Rs 254 Crore

New Delhi, Jul 25 (PTI) UTI Asset Management Company on Thursday reported a nine per cent growth in profit after tax (PAT) to Rs 254 crore in the three months ended June 30, 2024.

In comparison, the company had posted a PAT of Rs 234 crore in the same quarter a year ago, UTI AMC said in a regulatory filing to the stock exchanges.

The company's total revenue from operations rose 13 per cent to Rs 529 crore during the quarter under review, as compared to Rs 468 crore in the April-June quarter of the preceding financial year (2023-24).

As of June 30, 2024, the total assets under management (AUM) for UTI AMC stood at Rs 19.36 lakh crore, which includes the mutual fund's asset base of Rs 3.1 lakh crore.

"The Indian mutual fund industry has witnessed robust growth in the recent past making it amongst the most attractive investment avenues.

"As the Indian MF industry surpassed yet another milestone of Rs 60 lakh crore AUM by the end of June 2024, financial awareness and digitization have played crucial roles in this growth propelling it to unprecedented heights," Imtaiyazur Rahman, Chief Executive Officer, UTI AMC, said.

UTI AMC is the investment manager of UTI Mutual Fund. It has a countrywide network of branches along with a diversified distribution network.