Total revenue for the same period rose 34% year-on-year to Rs 197 crore.
For FY24, the company recorded a 34% increase in profit growth at Rs 226 crore, while revenues increased 25% to Rs 752 crore.
The board has recommended a final dividend of Rs 9 per share for the financial year 2023-24. The total dividend for FY24 stood at Rs 14, which includes an interim dividend of Rs 5 paid earlier.
Further, the board has also approved a proposal to buy back up to 3.7 lakh shares of the company at Rs 4,450 apiece for an amount not exceeding Rs 164.65 crore, representing 0.88% of the total paid-up equity share capital.
Anand Rathi Wealth saw a 52% year-on-year increase in consolidated assets under management (AUM) to Rs 59,351 crore.”This growth not only highlights our firm’s adeptness in navigating market volatilities but also our unwavering dedication to our clients’ wealth enhancement,” said Rakesh Rawal, CEO, Anand Rathi Wealth.”Our strategy, centered on offering straightforward, comprehensive, and uniform solutions, has been a cornerstone of our strong and enduring growth. We are confident in our future, projecting a continued growth trajectory of 20-25,” Rawal added.
In FY24, total net inflows saw an impressive increase of 41% year-on-year, amounting to Rs 7,182 crore. Furthermore, equity net inflows experienced a 47% year-on-year growth, reaching Rs 4,628 crore.
The wealth management firm said this growth underscores the deep trust and confidence the clientele place in its capabilities to guide them towards achieving their financial aspirations.
The client-centric focus is evidenced by maintaining a client attrition rate at approximately 1% in terms of AUM lost for the fiscal year 2024.
On Friday, Anand Rathi Wealth shares closed 3.6% higher at Rs 4,050 on NSE.
