UTI AMC Q2 Profit Soars 31% to Rs 239 Crore

New Delhi, Oct 25 (PTI) UTI Asset Management Company on Friday reported a 31 per cent on-year jump in profit after tax (PAT) at Rs 239 crore in the three months ended September 30, 2024.

The company had posted a PAT of Rs 183 crore in the same quarter of the preceding fiscal year, UTI AMC said in a regulatory filing.

The company's revenue from operations rose 33 per cent to Rs 538 crore in the July-September quarter of the current financial year (FY25), from Rs 404 crore in the year-ago period.

For the quarter ended September 30, 2024, UTI Asset Management Company's total asset base stood at Rs 20.16 lakh crore. This includes UTI Mutual Fund's assets base of over Rs 3.42 lakh crore.

Imtaiyazur Rahman, Chief Executive Officer, UTI AMC said the Indian mutual fund industry continues to showcase remarkable growth, with average AUM (assets under management) reaching Rs 66.22 lakh crore, reflecting strong investor confidence across the country.

"The increasing participation from smaller cities, with over 50 per cent of new investor folios coming from beyond major urban centres, highlights the expanding reach of mutual funds and their role in driving financial inclusion," he added.