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Anand Rathi Wealth Q3FY22 Results: Consolidated profit rises 144% to Rs 32 crore
Anand Rathi Wealth Q3FY22 Results: Consolidated profit rises 144% to Rs 32 crore
Anand Rathi Wealth Limited (ARWL) on Thursday, January 6, 2022, announced the first financial results for the quarter ended December 31, 2021
Anand Rathi Wealth Limited (ARWL) on Thursday, January 6, 2022, announced the first financial results for the quarter ended December 31, 2021, and reported a consolidated profit of Rs 32.03 crore, up 144 per cent YoY in the reported quarter against a profit of Rs 13.11 crore posted in the year-ago quarter.
This is the first result of the company posting a listing of its shares on the bourses.
The Mumbai-based financial services group's revenue rose 55.24 per cent YoY to Rs 105.96 crore compared to Rs 68.08 crore posted last year.
Moreover, the Board of Directors of the company has approved an interim dividend of Rs 5 per share for the financial year 2021-22. The total interim dividend amounts to Rs 20.80 crore.
Thursday, January 20, 2022, has been fixed as the Record Date for taking on record the Members of the Company for the purpose of Interim Dividend for the financial year 2021-22. The said Interim Dividend will be credited/dispatched to the shareholders by Friday, February 4, 2022, i.e. within 30 days from the date of declaration.
The Company has completed Initial Public Offering (IPO) of its equity shares, through an offer for sale of 1,20,00,000 equity shares by the existing selling shareholders at an offer price of Rs 550 per share (employee discount of Rs 25 per share for 2,50,000 shares reserved under employee category).
Pursuant to the IPO, the equity shares were allotted on December 9, 2021, and listed on BSE Limited and the National Stock Exchange of India Limited on December 14, 2021. The shares of the company made a decent debut as the scrip was listed at Rs 602.05 per share at BSE, over a 9.46 per cent premium against its issue price of Rs 550 per share. On the National Stock Exchange (NSE), the company was listed at Rs 600, a premium of 9.09 per cent over the given issue price.
Accordingly, the Unaudited consolidated Financial Results for the quarter and nine months ended December 31, 2021, are drawn up for the first time in accordance with the Listing Requirements.
