UTI Asset Management Company Limited (UTI AMC) declares financial results for the period ended September 30, 2020.

– Q2 FY 21 Revenue from Operation was at Rs.276 Crore up 16%

– Q2 FY21 Operating Expenses was at Rs.140 Crore up 11.15%

– Q2 FY21 Profit before tax was at Rs.147 Crore up by 16%.

– Q2 FY21 Profit After Tax was at Rs.119 Crore down by 12% (Pursuant to change in Corporate Tax rate, the deferred Tax Credit of Rs. 25 Crore was recognized in Q2 FY20)

– Dividend per share increases to Rs.7 (Final Dividend for FY 20) as against Rs. 5 (Final Dividend for FY 19) per share. Final Dividend for FY 20 is subject to the approval of shareholders at the ensuing Annual General Meeting.

– Total Assets Under Management at Rs.10,43,548 Crore

– UTI MF September 2020 Quarterly Average Assets under Management stood at Rs.1,55,190 crore.

Mr. Imtaiyazur Rahman, Chief Executive Officer, UTI AMC said, “The Covid-19 pandemic has had an impact on the way people perceive investment in MF and even as business activity in most economies gradually resumes, we, at UTI AMC, have fully adapted to the “New Normal”, and have seamlessly executed our operations in the last few months.

Post the Covid-related events in July and August 2020, UTI AMC saw improvement in investor flows and growth in AUM and witnessed a growth rate of 16.10% as against the industry growth rate of 12.07%, during the last quarter. The HY FY21 saw a rise of 3% in profits, driven by better investor stickiness, strength in the retail segment, and cost efficiencies.”

Business Highlights

– As on September 30, 2020, UTI MF’s Assets under Management was Rs.1,51,439 crore
– For the quarter ended September 30, 2020, UTI MF’s average assets under management was Rs. 1,55,190 crore.
– For the quarter ended September 30, 2020, Equity Assets (Active + Passive) contributed 45.1% to UTI MF’s total average AUM.
– As on September 2020, UTI AMC is one of the largest Asset Manager in the Industry, at Rs.10,43,548 crore.

– For the quarter ended September 30, 2020, the ratio of equity oriented QAAUM and non-equity oriented QAAUM is 1.4:1 compared to the industry ratio of 0.94:1.

– Gross Inflow mobilized through SIP for the quarter ended September 30, 2020 stood as Rs.759.65 crore. SIP AUM as of September 30, 2020 stood at Rs.11,187.36 crore, an increase of 12.04% as compared to June 30, 2020.

– As of September 30, 2020, over 54,000 empanelled distribution partners across Mutual Fund Distributors, National Distributors and Banks, serviced through a total of 163 UFCs of which 105 are in B-30 locations. The contribution of B-30 locations to our total monthly average AUM for September 2020 is 24%.

– Total live folios stood at 1.09 crore as on 30th September 2020.

– For the quarter ended September 30, 2020, digital purchase transactions rose to 9.5 lakhs transactions an increase of 15.2% as against quarter ended June 30, 2020. Digital channel contributed 19.2% to total new purchase transactions.

– As on September 30, 2020, UTI AMC has geographical presence at approx. 697 districts in India, which is amongst the highest in the industry.

Shares of UTI Asset Management Company Ltd was last trading in BSE at Rs. 503.40 as compared to the previous close of Rs. 498.55. The stock hit an intraday high of Rs. 503.40 and intraday low of Rs. 490.

1624 shares traded during the day at an average price of Rs. 496.90.

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