Anand Rathi Wealth Q2 profit rises 34% to Rs 58 crore

Leading non-bank wealth solutions company Anand Rathi Wealth on Thursday reported a 34 per cent increase in profit after tax at Rs 58 crore for the three months ended September. In comparison, it had posted a profit after tax of Rs 43 crore in the year-ago period, Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, said in a statement.

Total revenue surged 37 per cent to Rs 189.1 crore in the quarter under review from Rs 138.1 crore in the second quarter ended September 30, 2022. As of September-end this year, the assets under management of the company stood at Rs 47,957 crore, an increase of 34 per cent compared to the year-ago period. The company’s board of directors has declared an interim dividend of Rs 5 equity shares each. For the April-September 2023 period, the company reported a consolidated net profit of Rs 111 crore, an increase of 34 per cent year-on-year. Besides, total revenue grew 35 per cent year-on-year to Rs 368 crore during the same period.

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