Leading non-bank wealth solutions company Anand Rathi Wealth Ltd on Thursday (October 10) reported a 32.4% year-on-year (YoY) increase in net profit at ?76.1 crore for the second quarter that ended September 30, 2024.

In the corresponding quarter of the previous fiscal, Anand Rathi Wealth posted a net profit of ?57.5 crore, the company said in a regulatory filing. The company's revenue from operations rose 32.8% to ?242.5 crore against ?182.6 crore in the year-ago period.


At the operating level, EBITDA was up 34.5% to ?104.2 crore in the second quarter of this fiscal over ?77.5 crore in second quarter of FY24.


The EBITDA margin stood at 43% in the reporting quarter against 42.4% in the corresponding period of the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Anand Rathi Wealth reported a 70% year-on-year rise in mutual fund distribution revenue to ?195 crore, with net inflows up by 128% to ?5,700 crore. Equity mutual fund net inflows saw a 64% increase to ?3,116 crore, while the share of equity mutual funds in assets under management (AUM) grew to 55% as of September 2024, compared to 50% in September 2023.

The company recorded an annualised return on equity (ROE) of 44%.


The board of directors declared an interim dividend of ?7 per equity share, representing 140% of the face value of ?5 (140% of face value).


Rakesh Rawal, chief executive officer, said, "In H1 FY25 our total revenue grew by 35% year-on-year to ?495 crore and profit after tax was ?150 crore, representing growth of 35% year-on-year. Our assets under management (AUM) has seen a significant increase of 57% to ?75,084 crore. In the first half of FY25, we welcomed 1,066 new client families, bringing our total count of client families to 10,977."

Feroze Azeez, Deputy Chief Executive Officer, said, "During H1 FY25 our total net inflows registered a remarkable year-on-year growth of 128%, reaching ? 5,700 crore. Equity mutual fund net inflows achieved year-on-year growth of 64%, amounting to ?3,116 crore. Our client-centric approach has resulted in a 0.28% client attrition rate in terms of AUM lost during the first half of FY25."


The results came after the close of the market hours. Shares of Anand Rathi Wealth Ltd ended at ?4,040, down by ?77.45, or 1.88%, on the BSE.