UTI AMC Q2 Results, October 23, 2026: Core Profit Up 22% as Mark-to-Market Gains Vanish

UTI AMC Q2 results came out on October 23, 2026, and the cleanest way to read them is to split the business from the treasury book. On a consolidated basis, core profit after tax rose 22% year-on-year to ₹131 crore. Profit attributable to shareholders was up 17% at ₹132 crore, but it fell 55% from the June quarter, when the company had booked a large gain on its own investments.

UTI AMC Q2 results: the key numbers

Everything below comes from the company’s investor presentation and press release filed on NSE. Figures are consolidated unless we say otherwise, and all growth rates are against the September 2025 quarter.

• Sale of services (core fee income): ₹398 crore, up 2% from ₹390 crore, and 5% higher than ₹379 crore in Q1 FY27.
• Total revenue from operations: ₹414 crore, down 1% from ₹419 crore.
• Core profit after tax: ₹131 crore, up 22% from ₹107 crore.
• Profit after tax attributable to shareholders: ₹132 crore, up 17% from ₹113 crore, and down 55% from ₹294 crore in Q1 FY27.
• Employee costs: ₹128 crore, 19% lower than ₹159 crore a year ago.

Why reported profit swung so hard

This is the part that will confuse anyone looking only at the headline. In Q1 FY27, UTI AMC booked a net gain of ₹187 crore on fair value changes in its investments. In Q2 that line went to zero, and the company instead recorded a ₹15 crore net loss on fair value changes under expenses. That alone explains most of the quarter-on-quarter drop in profit.

The year-on-year comparison is also flattered a little. The company notes that employee costs in Q2 FY26 included a one-time ₹25 crore charge for family pension. Strip that out and the cost decline is smaller than the 19% headline suggests.

The standalone numbers look weaker. Standalone profit after tax fell 14% to ₹143 crore, though standalone core profit rose 31% to ₹136 crore. A big reason is that standalone interest and dividend income dropped to ₹8 crore from ₹52 crore a year earlier.

The business side

The fund house itself kept growing, if slowly. UTI Mutual Fund’s quarterly average assets under management (QAAUM) stood at ₹4,02,337 crore for the September quarter. Total group AUM was ₹16,28,189 crore.

• Equity-oriented assets made up 72% of average AUM, against an industry mix of 62% equity.
• Gross SIP inflows for the quarter were ₹2,583 crore, and SIP AUM was ₹45,572 crore, up 7.82% from ₹42,267 crore a year earlier.
• Equity schemes drew net inflows of ₹3,415 crore in the first half of FY27.
• Live folios stood at 1.47 crore, and digital purchase transactions rose about 64% to 86.74 lakh.

For the half year, consolidated profit attributable to shareholders was ₹426 crore, up 22% from ₹350 crore, while core profit rose 15% to ₹263 crore.

What it means for investors

We’d say the core business had a decent quarter, nothing more dramatic than that. Fee income grew just 2% from a year ago, so lower costs did a lot of the lifting on core profit. The treasury swings will keep making reported profit noisy, so core PAT is the better number to track.

For comparison, see how Nippon Life India AMC’s Q2 results and Aditya Birla Sun Life AMC’s Q2 numbers stacked up. Our guide on how to analyse quarterly results explains why one-off gains and charges matter so much.

Source: UTI Asset Management Company’s Q2 FY27 investor presentation and press release and financial results filed with NSE on October 23, 2026.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.