Anand Rathi Wealth shares up over 11% on strong Q4 earnings

The shares of Anand Rathi Wealth surged sharply on Wednesday after the company reported a strong earnings in Q4.

Since 2002, Anand Rathi Wealth has been in the business of private wealth solutions catering to high and ultra-high net worth individuals (HNIs & UHNIs).

During Q4FY22, its profit after tax increased whopping 239 per cent year-on-year to Rs 35 crore, while, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 216 per cent on year at Rs 46 crore.

Besides, the company's revenue grew 23 per cent on year to Rs 115 crore.

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Also, the company's assets under management (AUM) rose 23 per cent year-on-year to Rs 32,906 crore in FY22, which seemingly helped it to deliver strong earnings.

At 1.58 p.m., the shares of the company traded at Rs 683, up 11.5 per cent from the previous close.

(With inputs from IANS)