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Anand Rathi Wealth, a leading company providing wealth management and financial solutions, has announced its financial results for the second quarter (Q2) of the current financial year. The company has pleased the investors by registering a strong increase in its net profit in this quarter, although the company has also seen pressure on its margins on some fronts. Let us know the complete and detailed report of these quarterly results of the company.
Tremendous jump in quarterly profits and consolidated income
According to the financial data, Anand Rathi Wealth’s consolidated net profit for the quarter under review has registered a strong growth of 23.4 per cent on year-on-year (YoY) basis to reach Rs 42.7 crore. The company’s profit was less than this in the same quarter of the last financial year. Along with this, the total consolidated income of the company has also registered a significant growth and has jumped by 27 percent to Rs 143 crore, which reflects the strong business model of the company.
Decline in EBITDA and margin
On one hand, there has been an increase in the company’s profits, on the other hand, some softening has also been seen in its operational figures. The company’s consolidated EBITDA declined to Rs 117 crore during the quarter, compared to Rs 137 crore in the same quarter of the previous financial year. Apart from this, there has also been a decline in Ebitda margin and it has come down from 46.2 percent last year to 34 percent in this quarter.
Declaration of interim dividend for shareholders
Maintaining the tradition of consistently delivering returns to its investors, the board of Anand Rathi Wealth has declared dividend for its shareholders. The company has decided to give an interim dividend of Rs 4 per share to the eligible shareholders, which has created an atmosphere of enthusiasm among the investors.
Stock market performance and stock movement
Amidst these financial results, selling pressure was seen in the shares of Anand Rathi Wealth in the stock market on 9 October. The company’s shares closed at Rs 2,042, down 4.76 per cent, while its previous closing price was Rs 2,144. The stock touched a high of Rs 2,132.25 and a low of Rs 2,039.25 during the trading session. The VWAP (Volume Weighted Average Price) of this stock was recorded at Rs 2,056.84.
Market capitalization and valuation figures
Talking about the overall market valuation of the company, its highest level of 52 weeks has been Rs 2,267 and lowest level has been Rs 1,354. Currently the total market cap of the company is Rs 33,905.63 crore and free-float market cap is Rs 18,623.92 crore. Around 0.68 lakh shares were transacted during the trading period and the total turnover stood at Rs 14.09 crore. Furthermore, the P/E ratio of the stock is recorded at 73.32 on a standalone basis and 72.67 on a consolidated basis.