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HomeNewsBusinessEarningsAnand Rathi Wealth Q1 profit gains 38% YoY to Rs 73 crore; revenue gains 38% YoY to Rs 245 crore

Anand Rathi Wealth Q1 profit gains 38% YoY to Rs 73 crore; revenue gains 38% YoY to Rs 245 crore

Consolidated revenue from operations was also gained 38 percent YoY at Rs 245 crore.

July 11, 2024 / 18:17 IST
Over the last one year, stocks of Anand Rathi Wealth gained over 341 percent.
     
     
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    Anand Rathi Wealth reported a consolidated net profit of Rs 73 crore for Q1FY25, up 38 percent year-on-year (YoY). Consolidated revenue from operations was also gained 38 percent YoY at Rs 245 crore.

    Mutual fund revenue increased by 70 percent year-over-year (YoY) to Rs 89 crore. Net inflows grew by 173 percent YoY to Rs 3,364 crore, with equity mutual fund net inflows seeing an increase of 462 percent YoY to Rs 2,091 crore.

    As of June 2024, the share of equity mutual funds in Assets Under Management (AUM) increased to 54 percent, compared to 48 percent as of June 2023. The return on equity stood at 42.8 percent. Additionally, a buyback of Rs 164.65 crore (excluding charges and taxes) was successfully completed in June 2024.

    In a note, Feroze Azeez, Deputy Chief Executive Officer of Anand Rathi Wealth, noted that India’s strong fundamentals continue to attract investments into the equity markets with incremental inflows recording new highs every month. "During Q1 FY25, our equity mutual fund
    net inflows increased by 462 percent YoY to Rs 2,091 crore. This continued growth underscores the deep trust and confidence our clientele place in our value proposition. Our systematic and data driven approach along with a realistic understanding of client needs and risks has been instrumental in achieving these results," he said.

    Over the last one year, Anand Rathi Wealth stock has gained over 341 percent. At close on June 11, Anand Rathi Wealth was at Rs 4.142 per share, around 0.5 percent lower than open.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Jul 11, 2024 05:54 pm

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