Anand Rathi Wealth logs ~34% yoy growth in PAT at Rs39.70 crore; stock adds ~1%

13 Jul 2022 , 09:34 AM

Anand Rathi Wealth Limited has announced its results for the quarter ended June 2022 and has achieved significant growth on consolidated financial results for the quarter.

The company has reported total revenue of Rs133.50 crore in Q1FY23 as against Rs98.40 crore in Q1FY22, up by 35.70% on yoy basis. On a sequential basis, the company logged growth of 16.40% in revenue at Rs114.80 crore in Q4FY22.

Company’s Profit After Tax stood at Rs39.70 crore in Q1FY23, as compared to Rs29.70 crore in Q1FY22, registering a growth of 33.60% yoy. Sequentially, PAT grew by 14.80% at Rs34.60 crore in Q4FY22.

Company’s AUM grew by 15.4% yoy at Rs32,961 crore in Q1FY23 as compared to Rs28,561 crore in Q1FY22.

The company’s main Private Wealth business has registered 36.5% growth in revenue, 42.1% growth in trail revenue, 34.3% jump in PAT, and a 15.3% increase in AUM.

Despite challenging equity markets, net flows increased 395.5% to Rs1,355 crore, and active client families increased 17.4% to 7,477. The equity mutual fund AUM share of total AUM has increased from 39.2% to 45.9%, resulting in significant overall growth in the Private Wealth business.

At around 9.37 AM, Anand Rathi Wealth was trading at Rs659 per piece, up 0.91% from its previous closing of Rs653.05 on the BSE. The scrip opened at Rs667.80 and has touched intraday high and low of Rs682.45 and Rs655.85 respectively.