Conference Call with UTI Asset Management Company Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
UTI Asset Management Company announced Q1FY24 results: Core Income for Q1FY24 stood at Rs 283 crore, decreasing 1.4% YoY and up by 5.2% QoQ basis. Total Revenue from Operations for Q1FY24 was Rs 468 crore, up 60% YoY and 56% QoQ. Operating Expenses for Q1FY24 were at Rs 180 crore, down 11% YoY and 6% QoQ basis. Core Profit before Tax for Q1FY24 was at Rs 103 crore, witnessing a decline of 18% YoY and an increase of 31% QoQ. Profit before Tax for Q1FY24 was Rs 288 crore, up by 177% YoY and 144% QoQ. Core Profit after Tax for Q1FY24 was Rs 84 crore, witnessing a decline of 25% YoY and a growth of 46% QoQ. Q1FY24 Profit after Tax (PAT) was at Rs 234 crore, up 154% YoY and 172% QoQ. total Assets under Management for UTI Asset Management Company stood at Rs 16,13,153 crore. UTI Mutual Fund’s (UTI MF’s) total market share for Q1FY24 was at 5.76%. For Q1FY24, UTI MF’s average assets under management was Rs 2,48,088 crore. For Q1FY24, 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 68:32, for Q1FY24. For Q1FY24, gross inflow mobilized through SIP stood at Rs 554 crore. SIP AUM as of June 30, 2023, stood at Rs 24,920 crore, witnessing an increase of ~16% as compared to March 31, 2023. Commenting on the performance, Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI Asset Management Company said, “The Indian economy is witnessing robust growth & steadiness while reaching a higher pedestal in the global standing. Despite the volatility and corrections in the market, the Indian mutual fund industry continues to attract investors’ interest.” He also added, “At UTI AMC, we constantly endeavour to offer the best services and competitive investment opportunities to our patrons while focusing on our strategic roadmap for the growth of the company.” Result PDF
Conference Call with UTI Asset Management Company Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
UTI Asset Management Company announced Q4FY23 & FY23 results: Q4FY23: Q4FY23 profit after tax stood at Rs 86 crore, up by 59% from Q4FY22. The core profit after tax for Q4FY23 (excluding M2M gains, income from the sale of investments, and other non-operating income) was Rs 57 crore. Revenue from operations for Q4FY23 stood at Rs 301 crore, down by 0.1% from Q4FY22. The core revenue from operations for Q4FY23 consisting entirely of Sales of Services amounted to Rs 270 crore, down by 8% as against Q4FY22. Profit before tax for Q4FY23 was at Rs 117 crore, up by 21%, as against Q4FY22. The core profit before tax for the period (excluding M2M gains, income from the sale of investments, and other non-operating income) was Rs 78 crore, down by 24% when compared to Q4FY22. UTI MF March 2023 quarterly average assets under management stood at Rs 2,38,791 crore FY23: Revenue from operations for FY23 stood at Rs 1,267 crore, down by 3.9% from FY22. The core revenue from operations for FY23, consisting of Sales of Services, amounted to Rs 1,131 crore, up by 1.1% as against FY22. Profit before tax for FY23 was at Rs 586 crore, down by 11% as against FY22. The core profit before tax for FY23 (excluding M2M gains, income from sale of investments, and other non-operating income) was Rs 427 crore, down by 6% when compared to FY22 FY23 profit after tax stood at Rs 437 crore, down by 18% from FY22. The core profit after tax for FY23 (excluding M2M gains, income from the sale of investments, and other non-operating income) was Rs 321 crore down by 12% as compared to FY22. The board recommended a final dividend of Rs 22 per share for FY23, as against Rs 21 per share for FY22. The final dividend for FY23 is subject to the approval of shareholders at the ensuing annual general meeting. Total assets under management for UTI AMC at Rs 15,55,995 crore Commenting on the performance Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI AMC said, “As the brand UTI is completing six decades of being a front runner in promoting the development of the financial sector, we remain steadfast on our commitment towards our stakeholders. Our focus on offering innovative and customized solutions that cater to the diverse needs of our investors has been instrumental in our success over the years. As we continue to expand our product offerings and digital capabilities, we remain confident in our ability to create long-term value for all our stakeholders.” Result PDF