Anand Rathi’s share price was up on Wednesday continuing its three-session winning streak as the company released its financial results for FY23.
What Happened: The company’s net profits for the March quarter stood at ₹43 crore marking a 23% year-over-year increase. The company’s revenue from operations ₹142.95 crore up 3.5% sequentially and 27.6% YoY.
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The Mumbai-based financial services company’s total revenue for FY23 stood at ₹558.3 crore registering a 31% YoY growth. PAT for the year jumped 33% YoY to ₹168.6 crore. The company’s assets under management at the end of the final quarter of FY23 stood at ₹38,993 crore, up 18% YoY. The company added 1,270 client families in the year taking the total number to 8,352. as of March 31, 2023.
The company also released its guidance for FY24. The company expects AUM to grow 20% YoY in FY24 to ₹47,000 crore, revenue for FY24 to grow 18.4% to ₹661 crore, and PAT to grow 21% YoY to ₹205 crore.
The company also declared a final dividend of ₹7/share for FY23.
Price Action: Anand Rathi’s share price was up 3.68% to trade at ₹861 shortly after the markets opened for business on Thursday.
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