Profit before tax in Q1 FY24 stood at Rs 288 crore, up by 177% from Rs 104 crore in Q1 FY23.

The 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 the Q1 FY24 was consistent at 5.76%.

For the quarter ended June 30, 2023, UTI MF's average assets under management was Rs 2,48,088 crore. For the April-June 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 68:32, for the April-June 2023 quarter.

For the first quarter of FY 2023-24, gross inflow mobilized through SIP stood as Rs 554 crore. SIP AUM as of June 30, 2023 stood at Rs 24,920 crore, witnessing an increase of approximately 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 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 best services and competitive investment opportunities to our patrons while focusing on our strategic roadmap for the growth of the company.”

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.