UTI AMC records PAT of Rs 201 crore in Q2 FY23; market share rises by 4 bps sequentially

UTI Asset Management Company reported 1% rise in consolidated net profit to Rs 201 crore on a 15% increase in total revenue from operations to Rs 436 crore in Q2 FY23 over Q2 FY22.

Total expenses increased by 12% YoY to Rs 177 crore in the second quarter, primarily due to higher other expenses (up 33% YoY) and higher employee expenses (up 3% YoY). Employee expenses accounted for 58.2% of the total expenses during the period under review.

Profit before tax in Q2 FY23 stood at Rs 263 crore, up by 17% from Rs 225 crore in Q2 FY22.

UTI MF's total market share for the Q2 FY23 was 5.98%, witnessing an increase of 4 bps from 5.94% market share for Q1 FY23.

For the quarter ended on 30 September 2022, UTI MF's average assets under management was Rs 2,33,595 crore while the total assets under management stood at Rs 14,45,172 crore.

For the July-September 2022 quarter, equity oriented assets contributed 72.59% to UTI MF's total quarterly average AUM. The ratio of equity oriented QAAUM and non-equity oriented QAAUM is 73:27 compared to the industry ratio of 65:25, for the July-September 2022 quarter.

For the second quarter of FY 2022-23, gross Inflow mobilized through SIP stood as Rs 1,589 crore. SIP AUM as of 30 September 2022 stood at Rs 20,565 crore, witnessing an increase of 15.6% as compared to 30 June 2022.

Imtaiyazur Rahman, managing director & CEO, UTI AMC, 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.

UTI Asset Management Company (UTI AMC) is investment manager to UTI Mutual Fund. UTI AMC is registered as Portfolio Manager with SEBI and through its subsidiary it acts as Fund manager for AIF, among others. It also has a countrywide network of branches along with a diversified distribution network.

The scrip slumped 4.42% to end at Rs 756.65 on the BSE.

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