Anand Rathi Wealth stock rises 3.5% after Q1 results

On July 12, Anand Rathi Wealth’s share skyrocketed to ₹4,294.20, the day’s high as of now, up about 3.56%.

The company reported a consolidated net profit of ₹73 crore in Q1 FY25, up 38% as compared to the year-ago period. The company had reported a net profit of ₹53 crore in Q1 FY24.

Anand Rathi posted a total revenue of ₹245 crore, which was an increase of 38% from last year’s ₹178 crore. Total Assets Under Management (AUM) of the company witnessed a jump of 59% on a year-on-year basis, and was reported to be ₹69,018 crore in Q1 FY25.

As of 12:08 pm the company’s share price settled at ₹4,110.30 (-0.53%).

The company’s current market capitalisation stands at around ₹17,300 crore. The company crossed its milestone of adding 10,00 client families as it added 471 clients in the quarter ended June.

Anand Rathi got listed on December 14, 2021. The stock has rallied about 680% from its IPO price of ₹550 apiece.

“Indian economy is on a strong footing with GDP expected to grow at 7.2% for this year, making it the fastest growing market globally. In this backdrop, Indian markets have witnessed new all-time highs supported by strong performance of India Inc. With this, we anticipate a noticeable increase in the number of High Net-worth Individuals (HNIs) in the country and thus, creating a huge growth potential for the wealth business,” commented Rakesh Rawal, the CEO of Anand Rathi Wealth.

The company successfully concluded the buyback program of ₹164.65 crores, Rakesh said.

“India’s strong fundamentals continue to attract investments into the equity markets with incremental inflows recording new highs every month. During Q1 FY25, our equity mutual fund net inflows increased by 462% Y-o-Y to ₹ 2,091 crores. This continued growth underscores the deep trust and confidence our clientele place in our value proposition. Our systematic and data driven approach along with a realistic understanding of client needs and risks has been instrumental in achieving these results,” Feroze Azeez, the deputy CEO remarked.