Anand Rathi surges 4% on robust June quarter earnings; profit rises 38% YoY

Anand Rathi Wealth stock soared up to 3.58 per cent at Rs 4,285.85 per share on the BSE on Friday after the brokerage firm posted its April-June quarterly results for the fiscal year 2024-25 (Q1FY25).

The company reported a 37.9 per cent year-on-year (Y-o-Y) increase in net profits at Rs 73.2 crore during the June quarter. In the corresponding quarter, Anand Rathi Wealth posted a net profit of Rs 53.1 crore. 

The company's revenue from operations increased 35.8 per cent to Rs 237.6 crore against Rs 175 crore in the corresponding period of the preceding fiscal.

At the operating level, earnings before interest, tax, depreciation, and amortisation (Ebitda) rose 33.8 per cent to Rs 98.2 crore in the first quarter of this fiscal over Rs 73.4 crore in the year-ago period.

 

The EBITDA margin stood at 41.3 per cent in the reporting quarter compared to 41.9 per cent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Anand Rathi Wealth has been in the business of private wealth, catering to high net worth individuals (HNIs). They are also registered with AMFI as a mutual fund distributor overseeing AUM of over Rs. 59,351 crores across 9,911 families in India and globally.

At 11:19 AM; the stock of the company pared most of its gains and was trading 0.30 per cent higher at Rs 4150.15 per share on the BSE. In comparison the BSE Sensex rose 0.68 per cent to 80,441 levels.

Anand Rathi Wealth has a total market capitalisation of Rs 17,347.03 crore. The company shares are trading at a price to earnings multiple of 78.16 with an earning per share of Rs 52.94.