Latest News | UTI AMC Profit Jumps 3-fold to Rs 186 Crore in Dec Qtr

New Delhi, Jan 29 (PTI) UTI Asset Management Company (AMC) on Monday posted a three-fold jump in profit after tax to Rs 186 crore in the December quarter.

The company's profit after tax (PAT) was Rs 60.43 crore in the year-ago period, UTI AMC said in a regulatory filing.

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Its total revenue from operations surged 52 per cent to Rs 449 crore during the quarter under review from Rs 295 crore in the October-December period of FY23.

For the quarter ended December 31, 2023, the total assets base of the company stood at Rs 17.6 lakh crore. This includes UTI Mutual Fund's average assets under management (AUM) of Rs 2.73 lakh crore.

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"The increasing financial literacy and rising incomes in the nation, combined with the upward trend in returns from Indian markets, have significantly contributed to the expanding financialisation of savings.

"However, a substantial portion of the population remains untapped in terms of investment participation," Imtaiyazur Rahman, Managing Director and Chief Executive Officer of UTI AMC, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)