Strong results pop Angel One and Anand Rathi Wealth

Robust results popped Anand Rathi Wealth and Angel One 3-4 percent with the latter quoting at Rs 1,657 apiece on the National Stock Exchange at noon and the former hitting a record high of Rs 732 at 10 am before cooling off to Rs 695.

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Anand Rathi Wealth's consolidated net profit for the September quarter stood at Rs 43 crore, an increase of 41 percent from a year ago. Total revenue during the period rose 33 percent to Rs 138 crore. Assets under management increased 16 percent YoY to Rs 35,842 crore as of September 30, 2022.

Angel One reported consolidated total income of Rs 745.9 crore for the quarter, recording a 31 percent year-on-year growth. Consolidated profit after tax came in at Rs 213 crore, a growth of 59 percent on a quarterly basis.

The broking firm saw a 77.4 percent year on year increase in its client base to 11.6 million at the end of September. The board also recommended a dividend of Rs 9 per share.

“This has yet again been a strong quarter for the Indian capital markets, as India onboarded six million plus investors, growing the base to nearly 103 million. Retail participation in equities continues to gain momentum,” chairman and managing director Dinesh Thakkar said.

In 2022 so far, Angel One has surged 35 percent while Anand Rathi Wealth has gained 10 percent.