NSELeading non-bank wealth solutions company Anand Rathi Wealth Ltd on Thursday (July 11) reported a 37.9% year-on-year (YoY) increase in net profit at ₹73.2 crore for the first quarter that ended June 30, 2024.In the corresponding quarter, Anand Rathi Wealth posted a net profit of ₹53.1 crore , the company said in a regulatory filing.
EBITDA is earnings before interest, tax, depreciation, and amortisation.Anand Rathi Wealth's mutual fund revenue increased by 70% year-on-year to ₹89 crore.
The company also reported a robust return on equity (ROE) of 42.8% on an annualised basis.
""This has aided a revenue increase of 38% YoY to ₹245 crore and PAT increase of 38% YoY to ₹73 crore for this quarter.
Shares of Anand Rathi Wealth Ltd ended at ₹4,132.20, up by ₹14.20, or 0.34%, on the BSE.
NSE
Leading non-bank wealth solutions company Anand Rathi Wealth Ltd on Thursday (July 11) reported a 37.9% year-on-year (YoY) increase in net profit at ₹73.2 crore for the first quarter that ended June 30, 2024.In the corresponding quarter, Anand Rathi Wealth posted a net profit of ₹53.1 crore , the company said in a regulatory filing. The company's revenue from operations increased 35.8% to ₹237.6 crore against ₹175 crore in the corresponding period of the preceding fiscal.At the operating level, EBITDA rose 33.8% to ₹98.2 crore in the first quarter of this fiscal over ₹73.4 crore in the year-ago periodThe EBITDA margin stood at 41.3% in the reporting quarter compared to 41.9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.Anand Rathi Wealth's mutual fund revenue increased by 70% year-on-year to ₹89 crore. Net inflows surged by 173% YoY to ₹3,364 crore, with equity mutual fund net inflows soaring by 462% to ₹2,091 crore over the same period in the last fiscal.The share of equity mutual funds in assets under management (AUM) rose to 54% as of June 2024, up from 48% a year earlier. The company also reported a robust return on equity (ROE) of 42.8% on an annualised basis. Additionally, Anand Rathi Wealth successfully completed a buyback of ₹164.65 crore (excluding charges and taxes) in June 2024.Rakesh Rawal, Chief Executive Officer, said, "The increase of financial assets in the total pie of household assets has also helped in the growth of our AUM by 59% YoY to ₹ 69,018 crore as of June 30, 2024.""This has aided a revenue increase of 38% YoY to ₹245 crore and PAT increase of 38% YoY to ₹73 crore for this quarter. During Q1 FY25, we added 471 client families and crossed the milestone of 10,000 client families, further improving the financial goals of our clients," he added.The results came after the close of the market hours. Shares of Anand Rathi Wealth Ltd ended at ₹4,132.20, up by ₹14.20, or 0.34%, on the BSE.
