UTI AMC recorded revenue of ₹3.8 billion in the first quarter of FY27, showing no growth compared with the same period last year or the previous quarter.
The yield on management fees fell slightly to 38.6 basis points in Q1 FY27, down from 42 bp in Q1 FY26 but matching the 38.6 bp seen in Q4 FY26.
Operating expenses were ₹2 billion, a 3% drop from the same quarter last year and 12% lower than the quarter before. This cost reduction helped lift earnings.
Earnings before interest, tax, depreciation and amortisation (EBITDA) reached ₹1.8 billion, a 13% increase over Q1 FY26. The EBITDA margin improved to 46.9%, up from 45.4% in Q1 FY26 and 39.3% in Q4 FY26.
Analysts believe that better performance of equity funds will drive higher yields and help UTI regain market share.
The rating remains BUY, with a one‑year target price of ₹1,080 based on a 25‑times multiple of FY28 core earnings per share.
Overall, UTI AMC’s cost control and rising profitability support a positive outlook for the coming year.