Anand Rathi Wealth on January 12 reported consolidated net profit for the quarter ended December 2023 at Rs 58 crore, registering a growth of 34 percent. The company had reported a profit of Rs 43.2 crore in the same quarter last year.
Its revenue from operations came in at Rs 187.3 crore, rising 34 percent from Rs 140.2 crore in the corresponding quarter last year.
The company said its client base increased to 9,641 families and our assets under management (AUM) increased to Rs 55,057 crore as of Dec-2023.
"We have added 45 new relationship managers (RM) on a net basis over the past 12 months. A reflection of our entrepreneurial work culture is in the
zero regret RM attrition for Q2 and Q3FY24," said Rakesh Rawal, Chief Executive Officer, Anand Rathi Wealth.
"With a broad network of relationship managers of 322 spanning all major Indian cities, we are committed to providing our clients with well-researched data backed and uncomplicated wealth solutions to fulfil their financial goals."
During the Q3FY24 total net inflows grew by 124 percent YoY to Rs 2,907 crore, said the company. During the last quarter it added highest numbers of HNI families.
"This growth highlights our client families' trust in us and our deep understanding of our clients’ requirements, backed by meticulous research to gain insight into the risks associated with achieving their financial goals," said Feroze Azeez, Deputy Chief Executive Officer, Anand Rathi Wealth.
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