UTI AMC rallies 6%, hits over 2-year high on performance improvement

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UTI AMC rallies 6%, hits over 2-year high on performance improvement - Business Standard

Quick Summary:

With the rising importance of financial savings among Indian households, along with under-penetration and concentrated business model of mutual funds, the outlook for AMCs in India remains buoyant.

UTI AMC reported a superior Q1FY25 PAT (up 51 per cent quarter-on-quarter) led by improved revenue yield on the back of growth in better yield equity funds' AUM (up 21.7 per cent year-on-year) and hybrid funds' AUM (up 29.7 per cent Y-o-Y).

The company's total revenue from operations rose 13 per cent to Rs 529 crore during the quarter under review, as compared to Rs 468 crore in the April-June quarter of the preceding financial year (2023-24).