Anand Rathi Wealth’s Q4 net profit jumps 33% YoY, board approves buyback

The company has also approved a buyback of Rs 164 crore of upto 3,70,000 shares of the company at Rs 4,450 per share. Anand Rathi’s current stock price as of Friday’s close is Rs 4,050. 

Anand Rathi Wealth on Friday reported a strong set of Q4 earnings with its net profit surging 33% on a YoY basis to Rs 56.9 crore against Rs 42.7 crore in the same period last year. The wealth manager or broker’s total revenue for the fourth quarter of FY24 also grew 34% on a YoY basis to Rs 197.2 crore against Rs 147.1 crore in the same period last year.

Anand Rathi Wealth reported a consolidated net profit of ₹226 Crores for Apr – Mar 2024 (FY:2023-24), an increase of 34% compared to Apr – Mar 2023 (FY:2022-23) and total revenue during same period grew 35% to Rs 752 crore.

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The Board of Directors of the company also approved Final Dividend of Rs 9 per Equity Share of Face Value of ₹5 each of the Company (180% of Face Value). Total Dividend for FY:2023-24 stood at ₹14 per Equity Share (including Interim Dividend of ₹5 per Equity Share).

The company has also approved a buyback of Rs 164 crore of upto 3,70,000 shares of the company at Rs 4,450 per share. Anand Rathi’s current stock price as of Friday’s close is Rs 4,050.

“Amidst a fluctuating global economic environment, the Indian economy has emerged as a pillar of stability and hope. Despite the challenges posed by geopolitical tensions, the resilience of the Indian equity capital markets has been noteworthy, contributing significantly to wealth generation and the robust growth of the wealth management sector. Anand Rathi Wealth’s exemplary performance, evidenced by a commendable 52% year-on-year increase in our consolidated Assets Under Management (AUM) to ₹59,351 Crores, exemplifies this trend. 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.