Earnings March 2024: Anand Rathi Wealth Sees a 33% Jump In Its Profit

Earnings March 2024: Anand Rathi Wealth Sees a 33% Jump In Its Profit

The company's equity also rose from 48,009.35 to 66,155.44, seeing a mammoth 37.79 per cent.

Juviraj AnchilUpdated: Sunday, April 14, 2024, 03:43 PM IST
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Aniket Mandle

Anand Rathi Wealth Ltd, a Mumbai-based investment company, which was one of the few to release its yearly result along with TCS last week, has improved its numbers. The company posted a net profit of Rs 5,656.77 lakh. In March 2023, the company recorded a profit of Rs 16,840.67 lakh.

Compare that to March 2024, the profit rose to Rs 22,497.44 lakh. This meant a rise in profits by 33.58 per cent.

Rise of 30 per cent in Profit

When we focus on just the quarterly results of the fourth quarter of the fiscal year, the company appears to have done well their as well. This, as the profit margin rose from Rs 4,261.34 lakh to Rs 5,659.76 lakh. Once again recording a profit of over 30 per cent, at 32.81 per cent, compared to its numbers from March 2023.

In what can be seen as attempt to shore up its operations, the company, according to its own exchange filing appears to allowed a rise in its liabilities. Here there is particular rise in borrowings, as the borrowings rose from Rs 1,416.82 lakh in March 2023 to Rs 3,468.62 lakh.

Meanwhile, the company's equity also rose from 48,009.35 to 66,155.44, seeing a mammoth 37.79 per cent.

Earnings Impact D-Street Numbers

The reflection of these positive numbers in the filings was also seen in the the equity market. This, as the whole of the market was suffering in sea of red, amid tumbling numbers, Anand Rathi Wealth Ltd fared in green on the last day of trading on Friday.

The markets responded positively to these numbers, as the share prices of the company saw a 3.66 per cent jump. The share price of an individual piece stood at Rs 4,050. This was on the same day, when Sensex and Nifty both drowned and lost over one per cent of their value in a day.

The new week usher into new possibilities, as many more companies, including Infosys and Wipro are expected to file their results/ earnings with the exchanges.

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