Anand Rathi Wealth Limited reported a consolidated net profit of Rs 76 crore, up 32 percent YoY for the quarter ended September 30, 2024. Revenue for the quarter also increased 32 percent for the same period on an annual basis.
For the quarter, the company reported that mutual fund distribution revenue increased 70 percent YoY to Rs 195 crore. Net inflows for the same period grew 128 percent YoY to Rs 5,700 crore.
The Board of Directors declared an interim dividend of Rs 7 per equity share, representing 140% of the face value of Rs 5 each for the company.
For H1FY2025, the net profit was Rs 150 crore, up 35 percent YoY, while the total revenue during same period grew 35 percent YoY to Rs 495 crore.
On the Q2 performance, Rakesh Rawal, Chief Executive Officer noted that India’s growth story is being celebrated as the global economy faces geopolitical challenges and slow growth. "As the fastest-growing large economy, India is projected to achieve a 7% GDP growth for FY25, driven by strong domestic demand, government reforms and increased capital expenditure, which has also boosted its market capitalization. In light of such strong economic growth, the company’s prospects are positive, supported by the rising HNI population who are seeking a strategic approach to wealth creation,” he said.
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