Anand Rathi Wealth added 3.33% to Rs 703.45 after the company reported 41% jump in consolidated net profit to Rs 43 crore on a 34% increase in operating revenue to Rs 136.1 crore in Q2 FY23 over Q2 FY22.
Total operating costs rose by 29.8% to Rs 75.7 crore in Q2 FY23 over Q2 FY22.
Profit before tax in Q2 FY23 stood at Rs 57.5 crore, up by 40% from Rs 41.1 crore in Q2 FY22.
Assets under management (AUM) in Q2 FY23 was Rs 35,842 crore, up by 16% from Rs 30,989 crore in Q2 FY22.
The company's board has approved an interim dividend of Rs 5 per equity share.
Rakesh Rawal, chief executive officer, said: Despite all the external challenges, I am happy to share that our company has reported robust performance in H1 FY23 wherein the revenue grew by 34%, and PAT by 37%. This performance was backed by strong growth in AUM of 16% YoY at Rs 35,842 crore.
Another area where we witnessed strong momentum was the addition in number of client families. We added almost 1,250 client families in last one year. Our total client families as on 30th September 2022 stood a t 7,928. On the relationship manager (RM) side, we have added 37 RMs on a net basis.
Feroze Azeez, deputy chief executive officer, said: "Inspite of the volatile market scenario we have witnessed strong net flows of Rs 2,474 crore in H1 FY23 which is more than double as compared to the net flows of Rs 1,202 crore same period last year.
Anand Rathi Wealth is one of the leading non-bank wealth solutions company in India. It closely works with HNIs & UHNIs to meet their financial goals and objectives. It facilitates their investments in financial instruments using its well-researched solutions.
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