India's Anand Rathi Wealth shares rise after strong Q1 profit

Anand Rathi Wealth

13/07/2022 06:43

July 13 (Reuters) -    ** Shares of Indian non-bank wealth
solutions company Anand Rathi Wealth  ANAA.NS  rise as much as
4.84% to 683.95 rupees, their highest since June 2
    ** ANAA's June quarter consol net profit jumped 34% to 397
mln rupees ($4.98 mln) from 297 mln rupees a year ago
 urn:newsml:reuters.com:*:nFWN2YT0WE
    ** Co's consol revenue from operations increased to 1.32 bln
rupees from 975.5 mln rupees a year ago
    ** Despite difficult equity markets, net flows increased by
395.5% to 13.55 bln rupees and active client families increased
by 17.4% to 7,477
    ** Shares of equity mutual fund assets under management
(AUM) to total AUM has increased from 39.2% to 45.9% 
    ** More than 265,962 shares change hands, about 4x 30-day
average of 49,016 shares
    ** Stocks up 12.8% YTD

($1 = 79.6420 Indian rupees)

 (Reporting by Meenakshi Maidas)
 ((Meenakshi.Maidas@thomsonreuters.com;))