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Impact on Anand Rathi’s second quarter results: Shares of wealth management company Anand Rathi Wealth (Anand Rathi) soared up to 5.53 per cent to hit an intraday high of Rs 4,280 per share on Friday, October 11, 2024.
The rise in Anand Rathi share price came after the company reported strong results for the September quarter (Q2FY25).
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Anand Rathi’s consolidated net profit grew 32% year-on-year (y-o-y) to Rs 76.3 crore in the September quarter of FY2025, compared to Rs 57.7 crore in the same quarter of the previous financial year (Q2FY24).
The company’s operating revenue jumped 32 per cent annually to Rs 249.6 crore, compared to Rs 189.1 crore in the same quarter last year.
Anand Rathi’s assets under management (AUM) soared 57% to Rs 75,084 crore in Q2FY25, compared to Rs 47,957 crore in Q2FY24. Its earnings per share (EPS) also increased by 32 percent year-on-year, from Rs 18.3 to Rs 13.8.
Rakesh Rawal, CEO of Anand Rathi, said: “We are delighted to announce another exceptional financial result. During the first half of FY25, our total revenue grew 35% YoY to Rs 495 crore and PAT was Rs 150 crore, a growth of 35% YoY. Our assets under management (AUM) saw a significant increase of 57 per cent to Rs 75,084 crore. During the first half of FY25, we welcomed 1,066 new customer families, bringing our total number of customer families to 10,977.
Anand Rathi’s mutual fund (MF) distribution income soared 70 per cent annually to Rs 195 crore. Net inflows increased 128 per cent year-on-year to Rs 5,700 crore.
Further, the board of directors declared an interim dividend of Rs 7 per equity share of face value of Rs 5 each of the company (140 per cent of face value).
“In line with our shareholder reward policy, we have declared an interim dividend of Rs 7 per share for FY25,” Rawal said.
Anand Rathi Wealth is a non-banking wealth solutions company in India, focused on a diverse range of financial products and services. The Company’s offerings include wealth management solutions, mutual fund distribution as an AMFI registered distributor, and tailored private wealth management services designed for high net worth individuals (HNIs) and high net worth individuals (UHNI).
Additionally, Anand Rathi leverages technology through its digital wealth vertical, which combines personal interaction with innovative digital tools to enhance customer experience.
The Company’s Omni Financial Advisors (OFA) vertical further strengthens its service by providing a comprehensive technology platform to mutual fund distributors, enabling them to effectively manage client relationships.
The market capitalization of Anand Rathi is Rs 17,051.40 crore as per BSE.
At 11 am, shares of Annad Rathi were trading 1.28 per cent higher at Rs 4,107.75 per share. In comparison. BSE Semsex was trading 0.16 percent lower at 81,480.09 levels.
First publication: October 11, 2024 | 11:01 a.m. STI