Anand Rathi Wealth shares surge 3% on strong Q4 performance

Anand Rathi Wealth shares saw a notable uptick of nearly 3% following the wealth management company’s report of a 33% year-on-year increase in net profit for the fourth quarter.

The results, announced post-close on April 12, showcased a robust performance despite challenges in operating margins.

Advertisement

For Q4FY24, Anand Rathi Wealth recorded a net profit of Rs 56.6 crore. Revenue from operations during the reporting period surged by 29% to Rs 184.3 crore compared to the previous fiscal. EBITDA for Q4FY24 saw a 20% rise to Rs 73.1 crore from Rs 60.9 crore in the corresponding fiscal, while the margin stood at 39.7%, down from 42.6% in the previous fiscal.

In addition to the strong financial results, the company’s board approved a final dividend of Rs 9 per share for FY24 and proposed a buyback of equity shares worth up to Rs 164.65 crore.

As of 11:30 am, Anand Rathi Wealth shares were trading 2.96% higher at ₹4,127.90.