Consolidated profit before tax stood at Rs 59.3 crore in Q4 FY23, recording a growth of 34.77% from Rs 44 crore posted in the same period last year.

Total expenses spiked 23.83% year on year (YoY) to Rs 87.50 crore during the quarter.

Total asset under management (AUM) was at Rs 38,993 crore in the quarter ended 31 March 2023, up 18.5% as against Rs 32,906 crore recorded in the corresponding quarter previous year.

On a full year basis, the company's consolidated net profit (from continuing operations) grew by 32.93% to Rs 168.23 crore on 31.3% rise in total income to Rs 558.33 crore in FY23 over FY22.

Meanwhile, the firm's board has declared a final dividend of Rs 7 per equity share.

Rakesh Rawal, chief executive officer, said, “During the last year, we have added 1,270 client families, a new record at ARWL. Our total client families as on 31 March 2023 stood at 8,352. In the last one year, post listing, the company has outperformed its own expectations and we anticipate our long-term commitment to offer the most efficient wealth solutions to our clientele will enable us to achieve 20-25% growth in the years ahead.”

Feroze Azeez, deputy chief executive officer, said, “Despite the challenging environment, we have delivered strong performance across verticals. Our net flows for FY23 stood at Rs 4,896 crore, growth of 78% and the net flows in Q4 FY23 stood at Rs 1,180 crore, growth of 40%. This speaks of value which we add for our clients. This growth also reflects the effectiveness of developing uncomplicated wealth solutions for our client families as well as the competence of our team. Given the favourable macro economic situation and the increase in incomes and savings, we believe there is significant untapped market for the wealth management sector."

Anand Rathi Wealth is engaged in business of services for distribution and sale of financial products.