Profit before tax stood at Rs 219.76 crore in Q2 FY24, down by 16.05% from Rs 261.78 crore in Q2 FY23.

The total assets under Management (AUM) for UTI Asset Management Company stood at Rs 16,89,318 crore. UTI Mutual Fund's (UTI MF's) total market share for the Q2 FY24 was consistent at 5.68%.

For the quarter ended 30 September 2023, UTI MF's average assets under management was Rs 2,66,813 crore. For the July-September 2023 quarter, equity oriented assets contributed approximately 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 66:34, for the July-September 2023 quarter.

For the first quarter of FY 2023-24, gross inflow mobilized through SIP stood as Rs 1,648 crore. SIP AUM as of 30 September 2023 stood at Rs 26,541 crore, witnessing an increase of approximately 6.5% as compared to June 30, 2023.

On half-year basis, the company's net profit jumped 42.13% to Rs 417.22 crore on 18.91% increase in revenue from operations to Rs 871.83 crore in H1 FY24 over H1 FY23.

Imtaiyazur Rahman, managing director & chief executive officer, UTI Asset Management Company said, “The Indian Mutual Fund Industry has constantly worked towards building the financial literacy in the country for creating awareness about various products and in enabling investors to take informed investment decisions. With our growing geographical and digital reach in the country and our expertise in investment management combined with large suite of products, UTI is well placed to capitalize on the opportunities offered by the markets.”

UTI Asset Management Company (UTI AMC) is the 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.