Shares of Anand Rathi Wealth Limited surged as much as 16.2 per cent to hit a 52-week high of Rs 711 after the company posted a threefold profit for the January to March quarter of FY22 on Tuesday.
The company’s profit after tax (PAT) jumped 239 per cent to Rs 35 crore compared to Rs 10 crore in the same period last fiscal.
Shares of Anand Rathi Wealth Limited surged as much as 16.2 per cent to hit a 52-week high of Rs 711 after the company posted a threefold profit for the January to March quarter of FY22 on Tuesday.
According to the regulatory filing, the company’s profit after tax (PAT) jumped 239 per cent to Rs 35 crore compared to Rs 10 crore in the same period last fiscal. The company’s revenue increased by 49 per cent to Rs 115 crore, compared to Rs 77 crore in the year-ago period last fiscal.
For the entire FY22, the company’s PAT advanced 184 per cent to Rs 125.45 crore compared to Rs 44.22 crore in the year-ago period last fiscal. The company’s revenue for FY22 rose 56 per cent to Rs 408.95 crore compared to Rs 262.25 crore in the year-ago period last fiscal. The company’s asset under management (AUM) witnessed a 23 per cent growth to Rs 32,054 crore compared to Rs 26,058 crore in the year-ago period last fiscal.
The company’s CEO Rakesh Rawal said, “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. Our revenue increased by 2 per cent year-on-year (Y-o-Y) to Rs 426 crore and PAT increased by 184 per cent year-on-year (YoY) to Rs 127 crores for the year.”
At 11:44 am, the stocks of Anand Rathi were up 11.6 per cent at Rs 682.
Anand Rathi Wealth Limited was launched in 1994 and has its footprints in wealth management, investment banking, corporate finance and advisory, brokerage and distribution, commodities, mutual funds, structured products, insurance, corporate deposits, bonds and loans to institutions, corporations, and high-net-worth individuals and families.