Anand Rathi Wealth Q4 Results: Consolidated net profit, revenue grow by one-third

Anand Rathi Wealth Q4 Results: Brokerage Anand Rathi Wealth on Friday reported a consolidated net profit of Rs 56.6 crore for the January-March period, marking a 32.8 per cent year-on-year increase compared with the corresponding quarter a year ago.

Its total revenue for the fourth and final quarter of the financial year 2023-24 grew to Rs 197.2 crore from Rs 147.1 crore a year ago, according to a regulatory filing. 

For the full financial year, which ended on March 31, the company's revenue grew 35 per cent to Rs 752 crore, it said in a statement.

“Amidst a fluctuating global economic environment, the Indian economy has emerged as a pillar of stability and hope. Despite the challenges posed by geopolitical tensions, the resilience of the Indian equity capital markets has been noteworthy, contributing significantly to wealth generation and the robust growth of the wealth management sector. Anand Rathi Wealth’s exemplary performance, evidenced by a commendable 52 per cent year-on-year increase in our consolidated Assets Under Management (AUM) to Rs 59,351 crore, exemplifies this trend," said Rakesh Rawal, Chief Executive Officer, Anand Rathi Wealth.

"This growth not only highlights our firm’s adeptness in navigating market volatilities but also our unwavering dedication to our clients’ wealth enhancement," Rawal added. 

The company's board approved both a final dividend of Rs 9 per share and a proposal to buy back shares through the tender route. 

ALSO READ: Anand Rathi Wealth announces share buyback at 13% premium over market price | Anand Rathi Wealth declares final dividend

Earlier in the day, the stock ended 2.7 per cent higher at Rs 4,014.1 apiece on BSE.

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