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
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