Akash Jha
On Wednesday, the leading non-bank wealth solutions provider Anand Rathi Wealth stated that their profit after tax for the three months that ended in June 2023 was Rs 53 crore, which is an increase of 34 percent. According to a statement issued by Anand Rathi Wealth, which is a subsidiary of the Mumbai-based financial services conglomerate Anand Rathi, in comparison, the business had reported a PAT (profit after tax) of Rs 40 crore in the same quarter of the previous fiscal year.
The total income for the period under consideration increased by 34 percent to 178 crore in the current quarter, up from 134 crore in the first quarter that concluded on June 30, 2022. The asset under management (AUM) of the company reached Rs 43,413 crore as of the end of June of this year, representing an increase of 32 percent compared to the same time period in the previous year.
In addition to this, the organization proceeded to broaden its clientele during the first three months of the current fiscal year (2023-24), acquiring a total of 395 client families. Anand Rathi Wealth Ltd is one of the most successful non-bank wealth solutions organizations in India. They provide their services to high-net-worth clients as well as ultra-high-net-worth persons.
The organization operates in three distinct business verticals: private wealth, digital wealth, and omni financial advisors. The private wealth vertical is the oldest and most traditional of the three.
Also Read : TCS offers ‘outstanding performers’ a raise of 12-15% and initiates a promotion cycle.
