Anand Rathi Wealth hits record high after reporting robust results

Stocks

Profit jumped three-fold or 239 percent year-on-year to Rs 35 crore and revenue increased 49 percent to Rs 115 crore in the fourth quarter.

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Anand Rathi Wealth share price surged over 12 percent hitting a record high in the morning session on April 13 after the company reported robust results.

Fourth-quarter profit jumped three-fold or 239 percent year-on-year to Rs 35 crore and revenue increased 49 percent to Rs 115 crore.

Assets under management (AUM) grew 23 percent to Rs 32,906 crore from a year ago.

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“Our growth in AUM has helped us deliver strong growth in topline and much higher margins. For the year, revenue increased 52 percent to Rs 426 crore and profit after tax roseĀ 184 percent to Rs 127 crore,” CEO Rakesh Rawal said.

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At 10:42 AM, the stock was trading at Rs 684.05, up Rs 72.35 or 11.83 percent on NSE. It has touched a 52-week high of Rs 711.95. Trading volumes were 88,906 shares compared to five day average of 8,268 shares, an increase of 975.33 percent.

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