UTI Asset Management Company reported a 9% dip in consolidated net profit to ₹183 crore for Q2FY24 compared to the previous year. Despite a 22% sequential drop in net profit, the company's core income saw a 3% increase over the same period. Revenue from operations was ₹404.06 crore, marking a 13.6% YoY decline and a 7% QoQ decrease.
UTI MF's average assets under management (AUM) increased by 14.22% YoY to ₹2,66,813 crore, with total AUM at ₹16,89,318 crore, up 16.89%. Equity assets contributed 75% to the quarterly average AUM. Systematic Investment Plan (SIP) AUM rose by 29.06% YoY. Digital purchase transactions also surged by 9.43% in Q2 FY24.