The company’s assets under management (AUM) stood at Rs 6,901.8 crore, up 59 per cent year-on-year.
The earnings were announced after market hours and the stock closed at Rs 4,142 on the NSE, up Rs 21.65 or 0.53 per cent from Wednesday’s closing price.
Mutual fund revenues grew 70% YoY to Rs 890 crore, while net inflows grew 173% YoY to Rs 3,364 crore. Equity mutual funds’ net inflows grew 462% YoY to Rs 2,091 crore, and the share of equity mutual funds in assets under management increased to 54% as of June 2024 from 48% as of June 2023.
Return on equity (ROE) was reported at 42.8% annualized. The company also completed a share buyback of Rs 1,646.5 crore in June 2024. Holding company Private Wealth (PW) reported that the number of active client families stood at 10,382, up 19% year-on-year. Meanwhile, the number of relationship managers (RMs) grew 17% to 360 in the past 12 months. Commenting on the results, Anand Rathi Wealth CEO Rakesh Rawal said the increase in financial assets across household assets helped in AUM growth and also contributed to the 38% year-on-year revenue growth.
“In Q1FY25, we added 471 customer families, crossing the 10,000 family milestone and further advancing our customers’ financial goals,” Rawal said. “With multiple growth drivers coming together, we believe we have the potential to grow 20-25 per cent in the long term,” he added.
Also Read: Also Read: TCS Q1 results: Consolidated profit up 9% YoY at Rs 1,204 crore, beating expectations
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