Hot Pursuit     13-Jan-24
Anand Rathi posts 34% YoY rise in Q3 PAT; AUM at Rs 55,057 crore
Anand Rathi Wealth has reported a consolidated net profit of Rs 58 crore for Q3 FY24, an increase of 34% compared to the PAT figure of Rs 43.2 crore recorded in Q3 FY23.

Total revenue for the period under review rose by 34% YoY to Rs 187 crore.

Profit before tax in Q3 FY24 stood at Rs 78 crore, up by 34% from Rs 58.4 crore in Q3 FY23.

The company’s net-flows grew by 2.23 times to Rs 2,907 crore in Oct - Dec 2023 period as compared with the same period last year. Of this, Equity Mutual Fund net flows stood at Rs 1,948 crore (up 4.88x YoY) while the SIP flows added up to Rs 111 crore (up 41% YoY).

AUM increased by 43% to Rs 55,057 crore as on 31 December 2023 from Rs 38,517 crore as on 31 December 2022.

Rakesh Rawal, chief executive officer, said: “In 9M FY24, our revenue grew by 35% YoY to Rs 555 crore, while our PAT increased by 34% YoY to Rs 169 crore. We have added 45 new Relationship Managers on a net basis over the past twelve months. A reflection of our entrepreneurial work culture is in the zero regret RM attrition for Q2 and Q3 FY24.”

Feroze Azeez, deputy chief executive officer, said: “During the last quarter we have added highest numbers of HNI families. Alongside this, our superior client retention capabilities have helped us manage our client attrition rate below 1.0% in terms of AUM lost for 9M FY23.”

Anand Rathi Wealth is amongst India’s leading non-bank wealth solutions firms, catering to high and ultra-high net worth individuals.

The scrip rose 0.93% to end at Rs 2815.65 on the BSE on Friday.

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