UTI Asset Management Company announced Q1FY25 results: Financial Highlights: Revenue from operations for the April-June quarter stood at Rs 529 crore, up by 13% YoY and 27% QoQ. The core revenue from operations for Q1FY25 consisting entirely of sale of services amounted to Rs 337 crore, up by 19% YoY and 6% QoQ. Profit before tax for the first quarter of FY25 was at Rs 341 crore, up by 18% YoY and 56% QoQ. Core Profit before tax was Rs 144 crore for Q1FY25, up by 41% YoY and 25% QoQ. The quarterly profit after tax stood at Rs 254 crore in Q1FY25, up by 9% YoY and 56% QoQ. The core profit after tax for the first quarter (excluding income from investments and other nonoperating income) was Rs 117 crore, up by 39% YoY and 21% QoQ. The total AUM for UTI Asset Management Company stood at Rs 19,36,107 crore. Business Highlights: As on 30th June 2024, UTI MF’s quarterly average assets under management (QAAUM) was Rs 3,10,697 crore. Equity Assets (Active + Passive) contributed 78% to UTI MF’s total average AUM. The ratio of equity oriented QAAUM and non-equity oriented QAAUM is 78:22 vis-à-vis industry ratio of 71:29. Gross Inflow mobilized through SIP for the quarter ended 30th June 2024, stood at Rs 1,849 crore. SIP AUM as of quarter end stood at Rs 36,095 crore, an increase of 44.84% as compared to 30th June 2023. ~ 69,390 empaneled distribution partners across mutual fund distributors, national distributors and banks, serviced through a total of 190 UFCs, of which 137 are in B30 locations. Total live folios stood at 1.25 crore as on 30th June 2024. Digital purchase transactions rose to 37.84 lakh, an increase of 33.19% as against quarter ended 30th June 2023. UTI AMC has geographical presence in 698 districts in India, amongst the highest in the industry. Commenting on the performance Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI AMC said, “In the last few years, Indian economy has shown remarkable resilience and has garnered global recognition. Keeping up with this momentum, Indian mutual fund industry has witnessed robust growth in the recent past making it amongst the most attractive investment avenues. As Indian MF industry surpassed yet another milestone of 60 trillion AUM by the end of June 2024, financial awareness and digitization have played crucial roles in this growth propelling it to unprecedented heights. We, as pioneers, understand the responsibility that we shoulder towards our investors and partners and constantly endeavor to provide them with competitive investment solutions with best-in-class services. We believe that UTI AMC is suitably placed to capitalize on the opportunities in the MF industry’s expanding investment inflows and will continue creating value for our stakeholders backed by sustainable growth”. Result PDF
Conference Call with UTI Asset Management Company Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
UTI Asset Management Company announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations for the January-March quarter stood at Rs 416 crore, up by 37% YoY and down by 7% QoQ. The core revenue from operations for Q4 FY23-24 consisting entirely of sale of services amounted to Rs 318 crore, up by 18% YoY and 10% QoQ. Profit before tax for the fourth quarter of FY23-24 was at Rs 218 crore, up by 86% YoY and down by 16% QoQ. The quarterly profit after tax stood at Rs 163 crore in Q4 FY23-24, up by 90% YoY and down by 12% QoQ. The core profit after tax for the fourth quarter (excluding M2M gains, income from sale of investments and other non-operating income) was Rs 97 crore, up by 70% YoY and 22% QoQ. FY24 Financial Highlights: Revenue from operations for the financial year 2023-24 stood at Rs 1,737 crore, up 37% from FY22-23. The core revenue from operations for FY23-24, consisting of sale of services, amounted to Rs 1,182 crore, up 5% as against FY22-23. Profit before tax for FY23-24 was at Rs 987 crore, up 68% as against FY22-23. Profit after tax stood at Rs 766 crore for FY23-24, up 75% from FY22-23. The core profit after tax for the financial year (excluding M2M Gains, income from sale of investments and other non-operating income) was Rs 345 crore, up 8% as compared to FY22-23. The Board of Directors of the Company has proposed a final dividend of Rs 24 per equity shares and an additional special dividend of Rs 23 per equity share, taking overall final dividend to Rs 47 per equity share for financial year 2023 – 2024. The same is subject to the approval of shareholders at the ensuing Annual General Meeting. Total Assets Under Management for UTI AMC Group was at Rs 18,48,330 crore. Commenting on the performance Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI AMC said, “We have always remained steadfast in our commitment towards our stakeholders and investors. There has been a significant improvement in financial literacy amongst investors and the growth in the number of SIP investors in the mutual fund industry in the last year is a testament to this. The measures taken by the regulators have fostered confidence, further contributing to the rising participation of investors in mutual funds. We believe that it is an opportune time for the mutual fund industry as we collectively march towards the national mission of Vikasit Bharat. UTI will strive to partner in this growth through financial inclusivity and investor awareness.” Result PDF
Conference Call with UTI Asset Management Company Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
UTI Asset Management Company announced Q2FY24 results: Financial Highlights for Q2FY24: • The Core Income for the July-September 2023 quarter stood at Rs 292 crore, up by 3% QoQ basis. • Total Revenue from Operations for the quarter was Rs 404 crore, down 7% YoY and 13% QoQ. • The Operating Expenses for Q2FY24 were at Rs 186 crore, up 5% YoY and 3% QoQ basis. • The Core Profit before Tax for Q2FY24 was at Rs 106 crore, witnessing a decline of 7% YoY and growth of 3% QoQ. • The Profit before Tax for Q2FY24 was Rs 220 crore, down by 16% YoY and 24% QoQ. • The Core Profit after Tax for Q2FY24 was Rs 88 crore, witnessing a 1% YoY and 6% QoQ growth. • Q2FY24 Profit after Tax (PAT) was at Rs 183 crore, down 8% YoY and 22% QoQ. • The total Assets under Management for UTI Asset Management Company stood at Rs 16,89,318 crore. Business Highlights for Q2FY24: • UTI Mutual Fund’s (UTI MF’s) total market share for the Q2FY24 stood at 5.68%. • For the quarter ended September 30, 2023, UTI MF’s average assets under management was Rs 2,66,813 crore. • For the July-September 2023 quarter, equity-oriented assets contributed ~75% to UTI MF’s total quarterly average AUM. • The ratio of equity-oriented QAAUM and non-equity-oriented QAAUM is 75:25 compared to the industry ratio of 66:34, for the July-September 2023 quarter. • For the first quarter of FY24, gross inflow mobilized through SIP stood at Rs 1,648 crore. SIP AUM as of September 30, 2023, stood at Rs 26,541 crore, witnessing an increase of 6.5% as compared to June 30, 2023. • During this quarter, digital purchase transactions increased by 9.43% as against the quarter ended June 30, 2023, to ~31.09 lakh transactions. Digital channels contributed 41.8% to total new purchase transactions. Commenting on the performance, Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI Asset Management Company said, “The Indian Mutual Fund Industry has constantly worked towards building the financial literacy in the country for creating awareness about various products and in enabling investors to take informed investment decisions. With our growing geographical and digital reach in the country and our expertise in investment management combined with a large suite of products, UTI is well placed to capitalize on the opportunities offered by the markets.” Result PDF