Anand Rathi Wealth Share Price Soars After Q2 Earnings Boost

Anand Rathi Wealth Ltd. share price jumped 11% during early trade on Tuesday after the company reported robust second-quarter earnings.

Net profit rose 6% sequentially to Rs 99.4 crore in the September quarter of the current financial year, according to results released on Monday after market hours.

Revenue increased by 8.5% to Rs 297 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, was up 6.6% quarter-on-quarter to Rs 137.13 crore. The Ebitda margin slipped 78 basis points to 46.17%.

Equity mutual fund inflows doubled year-on-year to Rs 2,062 crore. Total net inflows jumped by 28% to Rs 3,002 crore.

The company achieved more than 50% of its full-year revenue and profit guidance. Client attrition, measured by AUM lost, remained at a low 0.18%.

Anand Rathi Wealth also announced its interim dividend of Rs 6 per share. The record date for the dividend has been decided as Oct. 17, the company said in its exchange filing.

Anand Rathi will distribute Rs 50 crore in dividend in the quarter ended September.

Anand Rathi Wealth share price advanced 11% intraday to Rs 3,264 apiece. The benchmark NSE Nifty 50 was down 0.1%. The relative strength index was at 75.

The total traded volume was 13 times the 30-day average with a turnover of Rs 776 crore.

The stock has risen 65% on a year-to-date basis.

Anand Rathi is one of India’s leading non-bank wealth management firms, focused on providing wealth solutions to HNIs and UHNIs. Its core business includes Private Wealth Management advisory. It also offers products like mutual funds, PMS, insurance and debt products.