Anand Rathi Wealth Q2 Profit Surges 34% to Rs 58 Crore on Strong Revenue Growth

13 Oct 2023 , 10:43 AM

Anand Rathi Wealth, a leading non-bank wealth solutions provider, stated on Thursday that its earnings after tax for the three months ending in September increased by 34% to Rs 58 crore. Anand Rathi Wealth, a division of Mumbai-based financial services business Anand Rathi, stated in a statement that it had previously reported a profit after tax of Rs 43 crore.

From Rs 138.1 crore in the second quarter ended September 30, 2022, total revenue increased 37% to Rs 189.1 crore in the quarter under review. The assets under control of the company were worth Rs 47,957 crore as of September 30, up 34% from the same time last year.

The board of directors of the firm has declared an interim dividend of five equity shares worth Rs. The business reported a consolidated net profit of Rs 111 crore for the April through September 2023 period, up 34% from the previous year. Additionally, throughout the same period, total revenue increased by 35% year over year to Rs 368 crore.

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