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UTI AMC Q1 net profit up 53% to Rs 155 crore

UTI AMC Q1 net profit up 53% to Rs 155 crore

The company reported a total income of Rs 350.11 crore during the first quarter ended June 30, 2021 as compared to Rs 270.37 crore in the same quarter a year ago

For the quarter ended June 30, 2021, UTI Mutual Fund's average assets under management was Rs 1,87,210 crore (Source:Reuters) For the quarter ended June 30, 2021, UTI Mutual Fund's average assets under management was Rs 1,87,210 crore (Source:Reuters)

UTI Asset Management Company has reported a 53 per cent jump in its profit after tax (PAT) at Rs 155.03 crore in the June 2021 quarter. In comparison, the company had posted a PAT of Rs 101.36 crore in the same quarter of the preceding fiscal, UTI AMC said in a regulatory filing.

The company reported a total income of Rs 350.11 crore during the first quarter ended June 30, 2021 as compared to Rs 270.37 crore in the same quarter a year ago.

For the quarter ended June 30, 2021, UTI Mutual Fund's average assets under management was Rs 1,87,210 crore.

"We have observed a rising affinity of investors towards mutual funds even during market volatility and the uncertainty that has been caused due to the pandemic. UTI AMC also stands stronger and continues to maintain the growth graph," Imtaiyazur Rahman, Chief Executive Officer, UTI AMC said.

"We aim to stay focused to combat the volatility and emphasize on good returns while growing our investor base," he added.

UTI AMC is the investment manager of UTI Mutual Fund. It has a countrywide network of branches along with a diversified distribution network.

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