UTI AMC Q4 FY23 net profit up 59% to ₹54 crore

UTI Asset Management announced that its net profit grew by 59 per cent to ₹86 crore in the quarter ended March of FY23 as against ₹54 crore recorded in the same period last year.

The fund house declared a dividend of Rs 22 per share.

Revenue from operations in the March quarter increased slightly to ₹309 crore (305 crores), while total expenses fell at ₹191 crore (208 crores).

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Assets under management of the finance house increased by 15 per cent at Rs.15.56 crore (Rs.13.49 thousand crores).

Portfolio management service accounted for 67 per cent of assets under management at ₹ 10.53 crore followed by MF’s Business and Retirement Solutions services which added up to 16 per cent and 15 per cent at ₹ 2.39 crore and ₹ 2.41 crore.

Inflows through the Regular Investment Scheme increased by 8 per cent to Rs.573 crore (Rs.531 crore).