Anand Rathi Wealth on Tuesday reported an over three-fold jump in its profit after tax at Rs 35 crore for the quarter ended March 2022.
In comparison, the company had posted a Profit After Tax (PAT) of Rs 10 crore in the same quarter the preceding fiscal, Anand Rathi Wealth said in a statement.
Revenue rose by 49 per cent to Rs 115 crore in the quarter under review compared to Rs 77 crore in the year-ago period.
For the entire financial year 2021-22, the company posted a PAT of Rs 127 crore and a revenue of Rs 426 crore.
“Our growth in AUM to Rs 32,906 crore, 23 percent over last year, has helped us deliver strong growth in topline and much higher margins.
“Our revenue increased by 52 per cent year-on-year (Y-o-Y) to Rs 426 crore and PAT increased by 184 per cent Y-o-Y to Rs 127 crores for the year,” the company’s CEO Rakesh Rawal said.
The company was listed in December 2021.
Anand Rathi Wealth operates in financial services with a focus on mutual fund distribution and sale of financial products.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Anand Rathi Wealth on Tuesday reported an over three-fold jump in its profit after tax at Rs 35 crore for the quarter ended March 2022. In comparison, the company had posted a Profit After Tax (PAT) of Rs 10 crore in the same quarter the preceding fiscal, Anand Rathi Wealth said in a statement. Revenue rose by 49 per cent to Rs 115 crore in the quarter under review compared to Rs 77 crore in the year-ago period. For the entire financial year 2021-22, the company posted a PAT of Rs 127 crore and a revenue of Rs 426 crore. “Our growth in AUM to Rs 32,906 crore, 23 percent over last year, has helped us deliver strong growth in topline and much higher margins. “Our revenue increased by 52 per cent year-on-year (Y-o-Y) to Rs 426 crore and PAT increased by 184 per cent Y-o-Y to Rs 127 crores for the year,” the company’s CEO Rakesh Rawal said. The company was listed in December 2021. Anand Rathi Wealth operates in financial services with a focus on mutual fund distribution and sale of financial products.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard. Digital Editor