 "UTI AMC reports 60% jump in Q4 net profit to Rs 86 cr on lower expenses")
UTI Asset Management Company (AMC) reported a 60 per cent year-on-year (YoY) jump in profits at Rs 86 crore in the fourth quarter of financial year (FY) 2023. The rise in profits is due lower expenses and a significant decline in tax outgo.
The revenue from operations remained flat at Rs 301 crore for the quarter under review.
For the whole of FY 2023, net profit was down 18 per cent at Rs 440 crore. Revenue from operations declined 4 per cent to Rs 1,267 crore.
UTI Mutual Fund was managing an average of Rs 2.4 trillion during the fourth quarter. The fund house ranks eight in the assets under management (AUM) rankings.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%