Anand Rathi Wealth Reports 34% Surge in Q1 Profit, Expands Client Base

13 Jul 2023 , 10:59 AM

Anand Rathi Wealth, a leading non-bank wealth solutions company, reported a 34% increase in profit after tax (PAT) for the three months ended June 2023. The company’s PAT stood at Rs 53 crore, compared to Rs 40 crore in the same quarter of the previous fiscal year.

Total revenue also rose by 34% to Rs 178 crore in the quarter under review, up from Rs 134 crore in the first quarter of the previous year. As of June 2023, Anand Rathi Wealth’s asset under management (AUM) reached Rs 43,413 crore, marking a 32% growth compared to last year.

The company expanded its client base by adding 395 client families in the first quarter of the current financial year (2023-24). Anand Rathi Wealth, a part of Mumbai-based financial services group Anand Rathi, caters to high and ultra-high-net-worth individuals. The company has diversified its business verticals with the addition of Digital Wealth and Omni Financial Advisors, leveraging technology for enhanced financial solutions.

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