Anand Rathi Wealth Ltd.

NSE: ANANDRATHI | BSE: 543415 | ISIN: INE463V01026 | Industry: Other Financial Services
| Mid-range Performer
666.55 -3.55 (-0.53%)
NSE Aug 18, 2022 15:31 PM
Volume: 10,904
 

Rapid Results Alerts
Anand Rathi Wealth Ltd.    
12 Jul 2022
666.55
-0.53%

Anand Rathi Wealth announced Q1FY23 results:

  • Total revenue rises 36% YoY to Rs 134 crore
  • Profit after tax rises 34% YoY Rs 40 crore
  • AUM rises 15% YoY to Rs 32,961 crore

Commenting on the Q1FY23 Results, Mr. Rakesh Rawal, Chief Executive Officer said

“The company has reported strong growth for the quarter ended 30th June 2022, despite the challenging market scenario. The company has reported the highest ever revenue of Rs. 134 crores, growth of 36% over the same period last year. Our PAT increased by 34% to Rs. 40 crores over same period last year. As on 30th June 2022, our AUM stood at Rs. 32,961 Crores, growth of 15% over same period last year.

We are confident that our long-term commitment to providing our clients with the most effective wealth management solutions, along with a committed team of Relationship Managers, will enable us to see strong growth in the coming years.”

Commenting on the Q1FY23 Results, Mr. Feroze Azeez, Deputy Chief Executive Officer said

“Our performance for the current financial year was backed by the addition of new clients and strong net flows. Our net flows for the quarter grew by whooping 395% as compared to same period last year. We have 7,400+ satisfied client families out of which 58% are with us for more than 3 years and account for 77% of our AUM. We believe the strong performance will continue in the current financial year with a strong team of Relationship Managers.

We believe that the wealth management sector in India holds significant growth potential, and we remain optimistic about the business potential, and will continue to drive towards our vision while consistently focusing on uncomplicated solutions.”

 

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