UTI Asset Management Company (UTI AMC) rose 2.07% to Rs 621.55 after the company reported a consolidated net profit of Rs 133.92 crore in Q4 FY21 compared with net loss of Rs 25.48 crore in Q4 FY20.
Total income during the quarter increased 100.7% to Rs 292.98 crore from Rs 145.98 crore recorded in the corresponding quarter last year.
Operating expenses declined by 12% to Rs 141 crore in Q4 FY21 over Q4 FY20. The asset manager reported a pre-tax profit of Rs 151.62 crore in Q4 March 2021 as against a pre-tax loss of Rs 14.97 crore in Q4 March 2020.
UTI MF March 2021 Quarterly Average Assets Under Management (QAAUM) stood at Rs 1,82,853 crore. For the quarter ended 31 March 2021, equity assets (active+passive) contributed 51% to UTI MF's total average AUM.
Commenting on the performance Imtaiyazur Rahman, chief executive officer, UTI AMC, said, "The mutual fund industry continues to attract investors amidst an unprecedented and challenging business environment in the last one year. The industry is looking to combat volatility and provide investment opportunities to investors for their long-term financial goals.
UTI AMC has registered an increase in its assets under management in this challenging environment and will continue to strive for growing its business in future. The mega vaccination drive across the country is a positive development which can help in the economic recovery."
The company reported 82% jump in consolidated net profit to Rs 494.14 crore on 34.7% increase in total income to Rs 1198.63 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
The board recommended a final dividend of Rs 17 per equity share for the financial year ended 31 March 2021.
UTI AMC is investment manager to UTI Mutual Fund. The company has a countrywide network of branches along with a diversified distribution network.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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