Conference Call with Anand Rathi Wealth Ltd. Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Financial Services company Anand Rathi Wealth announced Q2FY24 and H1FY24 results: Q2FY24: Total Revenue for Q2FY24 is Rs 189.1 crore, representing a YoY increase of 37%. Profit Before Tax in Q2FY24 is Rs 77.7 crore, showing a YoY increase of 35%. Profit After Tax for Q2FY24 is Rs 57.7 crore, with a YoY increase of 34%. Earnings Per Share (EPS) for Q2FY24 is Rs 13.8, reflecting a YoY increase of 34%. Assets Under Management (AUM) in Q2FY24 stands at Rs 47,957 crore, showing a YoY increase of 34%. H1FY24: Total Revenue for H1FY24 is Rs 367.5 crore, indicating a YoY increase of 35%. Profit Before Tax in H1FY24 is Rs 148.6 crore, with a YoY increase of 35%. Profit After Tax for H1FY24 is Rs 110.9 crore, showing a YoY increase of 34%. Earnings Per Share (EPS) for H1FY24 is Rs 26.6, reflecting a YoY increase of 34%. Assets Under Management (AUM) in H1FY24 is Rs 47,957 crore, indicating a YoY increase of 34%. Commenting on the results, Rakesh Rawal, Chief Executive Officer said, "It's remarkable how the Indian market has remained resilient, defying various challenges and highlighting the strength of our equity markets. With the steady economic growth, we anticipate a noticeable surge in the number of High Net-worth Individuals (HNIs) in the country. This underlines the growing need for expertise and uncomplicated wealth solutions that cater to the needs of HNIs. In H1FY24, our revenue grew by 35% to Rs 368 crore, while our PAT increased by 34% to Rs 111 crore. Our success can be attributed to our uncomplicated and holistic approach, which has resulted in an impressive 34% YoY growth in AUM. Our AUM currently stands at Rs 47,957 crore. Furthermore, we have expanded our client base to 9,212 families as of Sep 30, 2023, cementing our reputation as high-quality wealth solutions providers. We have added 40 new Relationship Managers on a net basis over the past twelve months. A reflection of our entrepreneurial work culture is in the zero-regret RM attrition for Q2FY24. Our client-centric approach has been a driving force behind our success so far, and we are confident that it will continue to fuel our growth trajectory in the future." Result PDF
Conference Call with Anand Rathi Wealth Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Other Financial Services company Anand Rathi Wealth announced Q1FY24 results: Consolidated Q1FY24 vs Q1FY23: Total Revenue: Rs 178 crore vs Rs 134 crore, up 33.6% YoY Profit before Tax: Rs 71 crore vs Rs 53 crore, up 34% YoY Profit After Tax: Rs 53 crore vs Rs 40 crore, up 34% YoY EPS: Rs 12.8 vs Rs 9.5, up 33.8% YoY AUM: Rs 43,413 crore vs Rs 32,961 crore, up 31.7% YoY Consolidated Q1FY24 vs Q4FY23: Total Revenue: Rs 178 crore vs Rs 147 crore, up 21.3% QoQ Profit before Tax: s 71 crore vs Rs 60 crore, up 19.1% QoQ Profit After Tax: Rs 53 crore vs Rs 43 crore, up 24.6% QoQ EPS: Rs 12.8 vs Rs 10.3, up 24.6% QoQ AUM: Rs 43,413 crore vs Rs 38,993 crore, up 11.3% QoQ Commenting on the results, Rakesh Rawal, Chief Executive Officer said, “During Q1FY24, our total revenue stood at Rs 178 crore, a growth of 34% compared to Rs 134 crore in Q1FY23. This growth is also reflected in our PAT, which stood at Rs 53 crore, representing a growth of 34% compared to the PAT of Rs 40 crore during the same period last year. PAT Margins stood at 30%. Our strong performance was further fueled by the robust growth in our Asset Under Management (AUM), which witnessed a 32% YoY increase, reaching Rs 43,413 crore. This growth was driven by the cumulative efforts of the team and favorable market conditions. Additionally, we continued to expand our client base, adding 395 client families during Q1FY24. In terms of Relationship Managers, we successfully added 15 new RMs on a net basis this quarter. We firmly believe that the Wealth Management sector holds immense potential, and this motivates us to remain committed to our vision of providing high-quality solutions that fulfill our clients' objectives.” Commenting on the same, Feroze Azeez, Deputy Chief Executive Officer said, “The emergence of India as a strong player in the global economy has been a significant driver behind the growth of the Indian equity markets. We have 8,700+ satisfied client families, of which 62% are with us for over 3 years and account for 80% of our AUM. At Anand Rathi Wealth, our core belief has always been centered around offering uncomplicated, standardized, and well-researched wealth solutions to our clients. This philosophy has enabled us to consistently achieve desired returns and enhance our client retention capabilities. Our client attrition rate is less than 1% in terms of AUM lost for Q1FY24 which speaks of the value we add for our clients. As the Indian economy continues to expand and progress, coupled with a growing number of millionaires and billionaires in the country, we believe, there will be an immense opportunity for professional wealth managers." Result PDF
Conference Call with Anand Rathi Wealth Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.