UTI Asset Management Company Ltd on Wednesday, April 23, reported a sharp 72.8% year-on-year decline in its March quarter profit to ₹33.7 crore. Revenue remained flat and the board recommended a final dividend of ₹40 per share for FY26.
Revenue for the quarter stood largely unchanged at ₹317 crore compared to the year-ago period. On a sequential basis too, profit dropped from ₹123.7 crore in the December quarter.
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For the full financial year FY26, net profit came in at ₹539.7 crore, down from ₹653.5 crore in FY25, while total income rose marginally to ₹1,492 crore from ₹1,456 crore a year ago.
The board recommended a final dividend of ₹40 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting.
During the year, earnings were impacted by exceptional items related to employee costs, including expenses linked to a voluntary retirement scheme (VRS) and the implementation of new labour codes, with total exceptional charges exceeding ₹108 crore.
Employee benefit expenses also increased to ₹437 crore in FY26 from ₹364 crore in the previous year.
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UTI AMC said its financial results have been prepared in accordance with applicable accounting standards, with auditors issuing an unmodified opinion on the standalone and consolidated financial statements.
Shares of the company ended 2% lower at ₹1,042.65 ahead of the Q4 result announcement on Thursday. The stock has gained 15% over the last month, but has declined 20% in the last six months.