Anand Rathi Q4 results: Net profit increased 33% to Rs 57 crore. Jointly announces dividend of 9 dividends per share
During the same period, total sales recorded 19.7 billion rupees, a 34% increase compared to the same period last year.
In FY24, the company saw profit growth of 34 per cent to Rs 226 crore, while revenue grew 25 per cent to Rs 752 crore.
The board has recommended a final dividend of ₹9 per share for the financial year 2023-24. The total dividend for FY24 was Rs 14, which includes the interim dividend of Rs 5 paid earlier.
The board also approved a proposal to purchase up to 370,000 shares of the company at Rs 4,450 per share for an amount not exceeding Rs 164.65 crore, equivalent to 0.88% of the total paid-up capital.
Anand Rathi Wealth recorded a 52% year-on-year increase in consolidated assets under management (AUM) to Rs 59,351 crore. “This growth highlights our firm’s adeptness in navigating market volatility as well as our unwavering commitment to growing our clients’ wealth. ,” said Rakesh Rawal, CEO, Anand Rathi Wealth. “Our strategy of focusing on providing simple, comprehensive and uniform solutions has been the cornerstone of our strong and sustained growth. We anticipate a continued growth trajectory and are confident about the future,” Rawal added.
In FY24, total net inflows increased 41% year-on-year to reach Rs 7,018.2 billion. Additionally, net equity inflows increased 47% year-on-year to reach Rs 4,628 crore.
The wealth management company said this growth highlights its deep trust and confidence in its ability to guide clients toward achieving their financial goals.
Our customer-centric focus is evidenced by maintaining our customer attrition rate in terms of lost AUM at approximately 1% during fiscal 2024.
On Friday, Anand Rathi Wealth shares closed 3.6 per cent higher at Rs 4,050 on the NSE.
