Anand Rathi Wealth Q1 Profit Rises 34% To Rs 53 Crore

Leading non-bank wealth solutions company Anand Rathi Wealth on Wednesday reported a 34 per cent surge in profit after tax at Rs 53 crore for three months ended June 2023.
     
In comparison, the company had posted a PAT (profit after tax) of Rs 40 crore in the same quarter of the preceding fiscal, Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, said in a statement.
     
Total revenue rose by 34 per cent to Rs 178 crore in the quarter under review from Rs 134 crore in the first quarter ended June 30, 2022.
     
As of June-end this year, the asset under management (AUM) of the company stood at Rs 43,413 crore, up 32 per cent over the same period last year.
     
In addition, the company continued to expand its client base adding 395 client families in the first quarter of the current financial year (2023-24).
    
Anand Rathi Wealth Ltd is amongst India's leading non-bank wealth solutions firms, catering to high and ultra-high-net-worth individuals.
    
In addition to the private wealth vertical, the company has two new-age technology-led business verticals -- Digital Wealth and Omni Financial Advisors.