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
UTI Asset Management Company announced Q3FY23 results: Q3FY23: The core income for the Q3FY23 quarter stood at Rs 284 crore, growing 1% YoY and slightly down by 2% QoQ basis. Total revenue from operations for the quarter was Rs 295 crore, down 5% YoY and 32% QoQ. The operating expenses for Q3FY23 were at Rs 174 crore, up 8% YoY and down 2% QoQ basis. The core profit before tax for the third quarter of fiscal 2023 was at Rs 110 crore, witnessing a decline of 9% YoY and 4% QoQ. The profit before tax for this quarter was Rs 102 crore, down by 31% YoY and 61% QoQ. The core profit after tax for the quarter ended December 31, 2022, was Rs 76 crore, witnessing a 16% YoY and 10% QoQ decline. Q3FY23 Profit after Tax (PAT) was at Rs 60 crore, down 53% YoY and 70% QoQ, primarily down on account of M2M impact on investments The total assets under management for UTI Asset Management Company stood at Rs 14,97,777 crore Commenting on the performance, Mr. Imtaiyazur Rahman, Managing Director & Chief Executive Officer, UTI Asset Management Company Limited said, “As India assumes its Presidency of the G20 Summit with “Vasudhaiva Kutumbakam” as the motto, we continue to flourish as the fastest growing emerging economy, despite the geopolitical tension and inflation headwinds all over the globe. The Indian Mutual fund industry has remained resolute and continued to create wealth for the investors.” He also added, “Being a trusted partner of the people in the process of nation-building and wealth creation for the last six decades, we, at UTI AMC, believe that our growth and that Result PDF
UTI Asset Management Company announced Q2FY23 results: Q2 FY 23 Profit after Tax (PAT) was at Rs 201 crore, up 1% YoY and 114% QoQ. The Core Profit after Tax for the quarter ended September 30, 2022 was Rs 85 crore, witnessing a decline of 2% YoY and 19% QoQ. Total Revenue from Operations for the quarter was Rs 436 crore, up by 15% YoY and 49% QoQ. The Core Income for the July - September 2022 quarter stood at Rs 291 crore, growing 4% YoY and 1% QoQ basis. The Core Operating Expenses for Q2 FY 23 were at Rs 177 crore, up 12% YoY and 9% QoQ basis. The Profit before Tax for this quarter was Rs 263 crore, up by 17% YoY and 148% QoQ basis. The Core Profit before Tax for the second quarter of fiscal 2023 was at Rs 114 crore, witnessing a decline of 7% YoY and 9% QoQ. The total Assets Under Management stood at Rs 14,45,172 crore. Commenting on the performance Mr. Imtaiyazur Rahman, Managing Director & CEO, UTI AMC Limited said, “The Indian economy is witnessing robust growth & steadiness amid global turbulence. Despite numerous headwinds, Indian investors continue to be buoyant towards the markets. We at UTI AMC, continue to manage volatility while monitoring market movements closely, and focus on our strategic roadmap with an endeavor to maintain growth in the upcoming quarters as well.” Result PDF
Conference Call with UTI Asset Management Company Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
UTI Asset Management Company Announced Q1FY23 Result : Consolidated net profit for the quarter ended June 30, 2022 is Rs 94 crore UTI MF’s total market share for the Q1 FY 23 was 5.94%, witnessing an increase of 11bps from 5.83% market share for Q4 FY 22. For the quarter ended June 30, 2022, UTI MF’s average assets under management was Rs 2,24,279 crore. For the April-June 2022 quarter, equity oriented assets contributed 70.3% to UTI MF’s total quarterly average AUM. The ratio of equity oriented QAAUM and non-equity oriented QAAUM is 70:30 compared to the industry ratio of 63:37, for the April-June 2022 quarter. For the first quarter of FY 2022-23, Gross Inflow mobilized through SIP stood as Rs 1,550 crore. SIP AUM as of June 30, 2022 stood at Rs 17,788 crore, witnessing a decline of 2.9% as compared to March 31, 2022. During this quarter, digital purchase transactions increased by 3.3% as against quarter ended March 31, 2022, to 29.5 lakh transactions. Digital channel contributed 39.2% to total new purchase transactions. The Core Income for the April-June 2022 quarter stood at Rs 287 crore, growing 10% YoY and slightly down by 3% QoQ basis. Total Revenue from Operations for the quarter was Rs 293 crore, down by 15% YoY and 3% QoQ. The Operating Expenses for Q1 FY 23 were at Rs 162 crore, up 4% YoY and down by 16% QoQ basis. The Core Profit before Tax for the first quarter of fiscal 2023 was at Rs 125 crore, witnessing a growth of 19% YoY and 21% QoQ. The Profit before Tax for this quarter was Rs 106 crore, down by 44% YoY and up 9% QoQ basis. The Core Profit after Tax for the quarter ended June 30, 2022 was Rs 111 crore, witnessed a 29% YoY and 94% QoQ growth. Q1 FY 23 Profit after Tax (PAT) was at Rs 94 crore, down 39% YoY and up by 74% QoQ. Dividend per share has been increased to Rs 21 per share (Final Dividend for FY 22) as against Rs 17 per share (Final Dividend for FY 21). The total Assets Under Management stood at Rs 13,81,545 crore. Commenting on the performance Mr. Imtaiyazur Rahman, Managing Director & CEO, UTI AMC Ltd. said, “Despite the volatility and corrections in the market, the mutual fund industry has observed an increase in investors’ interest. For the first quarter of fiscal 2023, UTI AMC continues to demonstrate a consistent growth in its Assets under Management. We are constantly working towards offering the best services to our patrons and endeavour to grow our business by offering competitive investment opportunities to all our investors.” Result PDF