Anand Rathi Wealth reports 23% rise in Q4 consolidated net profit; hits 52-week high
Anand Rathi Wealth has reported results for the fourth quarter (Q4) and year ended March 31, 2023.
Anand Rathi Wealth Limited, one of the leading non-bank wealth solutions firms in India, has reported its results for the fourth quarter (Q4) and year ended March 31, 2023. The company's consolidated net profit rose by 23.44% to Rs 42.71 crore for Q4FY23, compared to Rs 34.60 crore for the same quarter in the previous year.
Quarterly and Annual Results
On a consolidated basis, the company's total income increased by 28.05% at Rs 146.81 crore for Q4FY23, compared to Rs 114.65 crore for the corresponding quarter of the previous year. For the year ended March 31, 2023, Anand Rathi Wealth reported a 32.97% rise in its net profit at Rs 168.60 crore, compared to Rs 126.80 crore for the previous year. The company's total income for the year increased by 31.30% at Rs 558.33 crore, compared to Rs 425.22 crore for the year ended March 31, 2022.
Share Price Movement of Anand Rathi Wealth Limited
Following the announcement of the company's positive results, Anand Rathi Wealth Limited's stock opened at Rs 840 on Thursday, with a high and low of Rs 884 and Rs 837. Currently, the stock is trading at Rs 852.65, up by 2.68%. The stock has hit a 52-week high of Rs 884 and a 52-week low of Rs 607.50. The company has a market capitalization of Rs 3554.55 crore.
Company Profile
Anand Rathi Wealth primarily provides services through its flagship Private Wealth (PW) vertical. Registered as a Mutual Fund Distributor with the Association of Mutual Funds in India (AMFI) since 2002, the company caters to high and ultra-high-net-worth individuals (HNIs and UHNIs). The company serves a wide spectrum of clients through a mix of wealth solutions, financial product distribution, and technology solutions.
Conclusion
The rise in Anand Rathi Wealth's net profit and total income for both Q4FY23 and the year ended March 31, 2023, has resulted in the company's stock hitting a 52-week high. With its focus on providing customized wealth solutions to high-net-worth individuals, the company is well-positioned to continue its growth trajectory in the coming years.
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