iStockNEW DELHI – Shares of Anand Rathi Wealth surged 16.4 per cent in early trade on Wednesday after the company reported over-three-fold jump in profit after tax (PAT) at Rs 35 crore for the quarter ended March 2022.
The company had posted a net profit of Rs 10 crore in the same quarter the preceding fiscal, it said in a statement to exchanges.
Anand Rathi Wealth’s scrip shot up to a high of Rs 711.95 as against Rs 611.70 at the previous close on the BSE.
The firm’s revenue rose by 49 per cent to Rs 115 crore in the quarter under review compared to Rs 77 crore in the year-ago period.
For the entire financial year 2021-22, the company posted a PAT of Rs 127 crore and a revenue of Rs 426 crore.
"Our growth in AUM to Rs 32,906 crore, 23 per cent over last year, has helped us deliver strong growth in topline and much higher margins,” the company's CEO Rakesh Rawal said. "Our revenue increased by 52 per cent year-on-year (YoY) to Rs 426 crore and PAT increased by 184 per cent YoY to Rs 127 crore for the year,"
The company made its debut on exchanges in December 2021.
"Our performance reinforces our long-term commitment to our strategy and to the clients. The macro tailwinds in this business are huge and we want to build a business that is highly differentiated and sustainable," Feroze Azeez, Deputy Chief Executive Officer said.
“We are happy to have more than 7,000 satisfied client families out of which 57 per cent have been with us for more than 3 years.”
Anand Rathi Wealth operates in the financial services sector with a focus on mutual fund distribution and sale of financial products.
The company had posted a net profit of Rs 10 crore in the same quarter the preceding fiscal, it said in a statement to exchanges.
Anand Rathi Wealth’s scrip shot up to a high of Rs 711.95 as against Rs 611.70 at the previous close on the BSE.
The firm’s revenue rose by 49 per cent to Rs 115 crore in the quarter under review compared to Rs 77 crore in the year-ago period.
For the entire financial year 2021-22, the company posted a PAT of Rs 127 crore and a revenue of Rs 426 crore.
"Our growth in AUM to Rs 32,906 crore, 23 per cent over last year, has helped us deliver strong growth in topline and much higher margins,” the company's CEO Rakesh Rawal said. "Our revenue increased by 52 per cent year-on-year (YoY) to Rs 426 crore and PAT increased by 184 per cent YoY to Rs 127 crore for the year,"
The company made its debut on exchanges in December 2021.
"Our performance reinforces our long-term commitment to our strategy and to the clients. The macro tailwinds in this business are huge and we want to build a business that is highly differentiated and sustainable," Feroze Azeez, Deputy Chief Executive Officer said.
“We are happy to have more than 7,000 satisfied client families out of which 57 per cent have been with us for more than 3 years.”
Anand Rathi Wealth operates in the financial services sector with a focus on mutual fund distribution and sale of financial products.
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