Anand Rathi Wealth rose 1.39% to Rs 662.10 after the company reported 33.6% rise in consolidated net profit to Rs 39.7 crore on a 35.7% increase in total revenue to Rs 133.5 crore in Q1 FY23 over Q1 FY22.
Total operating costs jumped 40.3% YoY to Rs 75.9 crore during the quarter.
Profit before tax in Q1 FY23 stood at Rs 52.9 crore, up by 33.6% from Rs 39.6 crore in Q1 FY22.
Rakesh Rawal, chief executive officer, said: The company has reported strong growth for the quarter ended 30th June 2022, despite the challenging market scenario. As on 30th June 2022, our AUM stood at Rs 32,961 crore, growth of 15% over same period last year.
We are confident that our long-term commitment to providing our clients with the most effective wealth management solutions, along with a committed team of Relationship Managers, will enable us to see strong growth in the coming years.
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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