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