Anand Rathi Wealth zooms 16% to hit record high on strong Q4 results

Shares of Anand Rathi Wealth zoomed 16 per cent to Rs 711.95 on the BSE in Wednesday’s intra-day trade after the company reported strong results with its profit after tax (PAT) and operating profit more-than-doubling in the March quarter (Q4FY22).

The company’s assets under management (AUM) rose 23 per cent year-on-year (YoY) to Rs 32,906 crore during the quarter, which helped it to deliver strong growth in topline and much higher margins.

The stock of the leading non-bank wealth solutions firm was trading at the highest level since its listing on December 14, 2021. The company had raised funds by issuing shares at price of Rs 550 per share in initial public offering (IPO).

In Q4, its PAT increased 239 per cent YoY to Rs 35 crore, while, earnings before interest, taxes, depreciation, and amortization (ebitda) jumped 216 per cent YoY at Rs 46 crore. Revenue grew 23 per cent YoY to Rs 115 crore.

With growing awareness of a need of dedicated wealth management advisor and broad-based recovery in the economy, the management expects an increased inflow of funds and consistent growth in AUM in the coming quarters.

At 09:27 am; the stock was trading 12 per cent higher at Rs 685.65, as compared to a 0.62 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple-folds with a combined around 930,000 equity shares having changed hands on the NSE and BSE.