UTI AMC Q1 results: Profit jumps over two-fold to Rs 234 crore

UTI Asset Management Company on Tuesday reported a more than two-fold jump in profit after tax to Rs 234 crore in the June quarter. The company had posted a profit after tax of Rs 92 crore in the same quarter in the preceding fiscal, UTI AMC said in a regulatory filing.

The company's total revenue from operations surged 60 per cent to Rs 468 crore in the first quarter of the current fiscal compared to Rs 293 crore in the same period of the preceding fiscal. For the June quarter, UTI Mutual Fund's average assets under management were Rs 2.48 lakh crore and had a market share of 5.76 per cent.

"Despite the volatility and corrections in the market, the Indian mutual fund industry continues to attract investors' interest," Chief Executive Officer UTI AMC Imtaiyazur Rahman said. UTI AMC is the investment manager to UTI Mutual Fund. It has a countrywide network of branches along with a diversified distribution network.

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