Asset management company UTI has announced that its net profit increased by 59% to ₹86 crore in the quarter ended March fiscal 2023 compared to ₹54 crore recorded in the same period last year.
The fund house declared a dividend of $22 per share.
Operating revenue for the March quarter increased slightly at ₹309 crore (₹305 crore), while total expenses fell to ₹191 crore (₹208 crore).
Also read: Broker Call: UTI Asset Management (Buy)
Assets under management of the fund increased 15% to 15.56 lakh crore (13.49 lakh crore).
Portfolio management services accounted for 67% of AUM at 10.53 lakh crore, followed by MF’s business and retirement solution services which added up to 16% and 15% respectively at 2.39 lakh crore. crore and 2.41 lakh crore.
Inflows through the systematic investment scheme increased by 8% at ₹573 crore (₹531 crore).
