The financial year 2017 completes 25 years of our journey of delivering value to youand helping investors meet their financial goals while maintaining the highest levels ofintegrity. We have come a long way traversing through the various vicissitudes of themarket yet generating wealth for our investors and clients remains the guiding principleimbibed in our roots.
It's a fascinating time that we are living in. Self-driving cars artificialintelligence deliveries by drone and disrupting technologies that are making liveseasier and convenient for us.
Today thanks to technology reaching out to people and making the markets available tothem has become much easier. Access to information transparency and right tools has madeinvesting more meaningful for them. We are humbled at the opportunity to lead Arihantforward in this new "smart" age.
I've always believed in the power of investing. With the right financial provider andactive engagement investors can make better decisions that bring greater value to theirfinancial lives. From day one our goal has been to provide a platform for investors tobuild wealth focus on long-term value rather than short-term profits and always offerprofessional objective advice.
I am pleased to inform you that these guiding principles have helped us to deliver astrong performance in FY2017. During the financial year your company's total income stoodat Rs.86.95 crore and reported a profit after tax of Rs.16.69 crore. Our focus ondistribution incrementing value proposition to existing clients focus on widening ournetwork and of course support from stock market buoyance has helped us in recording astrong growth in our topline and bottomline.
Over the years I've been reiterating my belief in India's growth story and I amconfident that the best times are yet to come. We are already witnessing the globaleconomic order shifting towards emerging economies in the recent times. With the strongreforms already in order the value is yet to unlock and there is a huge potential bothfor the investors and for us as a company to grow.
Indian mutual fund industry is undergoing a very exciting phase with the average assetsunder management surpassing 19.92 lakh crore in June 2017 - a three fold increase in past5 years. Interesting to note is the fact that small towns contribution to mutual fund'sasset base surged 46% owing to aggressive campaigns by SEBI and AMFI signifying theincreased penetration of the equity asset class among domestic investors. This has reducedhistorical dependence on foreign institutional investors reducing market volatility. Withthe advent of technology and increased awareness the share of household in the domesticequity markets is going to increase. It will not only provide the much-needed fillipcapital to domestic companies to increase their business operations and support the equitymarkets it also offers us a huge opportunity to grow.
I believe that in this journey we are always learning new things improving everydayand building new relationships. It's always work-in-progress. As I feel nostalgicreminiscing about the past 25 years of our journey I am ready to embrace the future. Iinstalled a strong and experienced leadership team to propel our business. Our uniquestrategic position based on client first approach a rich experience of 25 years in theindustry a diversified product range and a young team is poised to drive considerablegrowth in the coming years. I am geared up to take the next leg of journey forward.
The industry may be crowded today with incumbents and disruptors trying to do the samebut we have something that many of the others don't right intent strong network anddeeper understanding of the business.
We've set the bar high but we are confident about the future. I take this opportunityto thank you for your continued support acknowledge the commitment and hard work of thecomplete Arihant family who has made this successful journey possible to our customersfor instilling trust in us and the regulators and all the stakeholders for their support.
ASHOK KUMAR JAIN
Chairman & Managing Director.