Anand Rathi Wealth's profit surges 33% in FY23, revenue rises 31%
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Anand Rathi Wealth on Wednesday reported a 33 per cent jump in net profits in financial year (FY) 2023 to Rs 169 crore. Revenues surged 31 per cent to Rs 558 crore from Rs 425 crore in the previous FY.
For the quarter-ended March 2023, revenue was up 28 per cent year-on-year to Rs 146 crore. Profit after tax for the quarter rose 23 per cent to Rs 43 crore.
According to the company, the assets under management increased 18 per cent during the year to Rs 39,000 crore.
"We have delivered strong performance across verticals. Our net flows for FY23 stood at Rs 4,896 crores, growth of 78 per cent and the net flows in Q4 FY23 stood at Rs 1,180 crores, growth of 40 per cent," said Feroze Azeez, Deputy Chief Executive Officer of the company.
Anand Rathi Wealth is a wealth management firm catering mostly to the high net worth individuals.
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