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Business News/ Companies / Company Results/  UTI AMC Q3 results: Net profit jumps 3-fold to 186 crore
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UTI AMC Q3 results: Net profit jumps 3-fold to ₹186 crore

UTI Asset Management Company (AMC) on Monday posted a three-fold jump in profit after tax to ₹186 crore in the December quarter. The company's profit after tax (PAT) was ₹60.43 crore in the year-ago period

UTI AMC Q3 results: Its total revenue from operations surged 52% to ₹449 crore during the quarter under review from ₹295 crore in the October-December period of FY23Premium
UTI AMC Q3 results: Its total revenue from operations surged 52% to 449 crore during the quarter under review from 295 crore in the October-December period of FY23

UTI Asset Management Company (AMC) on Monday posted a three-fold jump in profit after tax to 186 crore in the December quarter.

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

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

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

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"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.

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Published: 29 Jan 2024, 10:57 PM IST
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