Anand Rathi Wealth reported strong growth in its adjusted consolidated profit for the second quarter of FY27, supported by record client inflows and an expanding assets-under-management base. Adjusted profit after tax (PAT) rose 22% year-on-year to ₹121.9 crore, while revenue increased 16.1% to ₹356.6 crore. The wealth management company’s assets under management (AUM) reached ₹1,08,377 crore as of September 30, 2026, an increase of 18% from a year earlier.
The company also announced an interim dividend of ₹4 per equity share for FY27. Its quarterly net inflows reached a record ₹4,186 crore, up 39% year-on-year, despite pressure on Indian equity markets. However, the adjusted profit figure needs to be distinguished from reported earnings: consolidated reported PAT declined to approximately ₹89.3 crore from ₹99.8 crore in the corresponding quarter last year. The difference reflects adjustments involving fair-value gains, employee stock option expenses and related tax effects. <Cite refs={[“turn646867search0″,”turn646867search1″,”turn646867search2”]}/>
Anand Rathi Wealth Q2 FY27 Results: Key Numbers
The September-quarter results show growth in revenue, adjusted profitability, client inflows and AUM. At the same time, the difference between adjusted and reported profit highlights the importance of examining the underlying financial statements rather than relying on a single headline growth rate.
Financial Performance
| Financial metric | Q2 FY27 | Q2 FY26 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | ₹343.99 crore | ₹297.37 crore | +15.7% |
| Total income | ₹356.60 crore | ₹307.18 crore | +16.1% |
| Adjusted consolidated PAT | ₹121.9 crore | ₹99.8 crore | +22% |
| Reported consolidated PAT | Approximately ₹89.3 crore | Approximately ₹99.8 crore | Decline of about 10.6% |
| Assets under management | ₹1,08,377 crore | ₹91,568 crore | +18.4% |
| Quarterly net inflows | ₹4,186 crore | ₹3,013 crore approximately | +39% |
| Interim dividend | ₹4 per share | — | — |
Sources: Financial Express, The Economic Times and company disclosures. Figures are rounded where appropriate; adjusted and reported profit are different measures.
The results show that the company continued to expand its wealth management business, attracting more client assets and increasing revenue. However, reported profit was affected by items excluded from the adjusted calculation.
Why Did Adjusted Profit Rise While Reported Profit Fell?
The difference between adjusted and reported earnings is one of the most important aspects of Anand Rathi Wealth’s Q2 FY27 results.
Adjusted consolidated PAT increased 22% to ₹121.9 crore, indicating growth in the profit measure used by the company after specified adjustments. Reported consolidated PAT, however, fell to around ₹89.3 crore from ₹99.8 crore a year earlier.
The adjusted measure excludes items such as fair-value gains on investments, employee stock option expenses and their related tax effects. These adjustments can cause reported earnings to move differently from the adjusted figure.
Investors should therefore consider both numbers when assessing the company’s performance. Adjusted profit helps explain the company’s underlying operating performance according to its chosen methodology, while reported profit reflects the accounting result under the applicable reporting framework.
The two figures answer different questions and should not be treated as interchangeable.
Revenue Grows 16.1% as Wealth Management Business Expands
Anand Rathi Wealth’s total income increased to ₹356.6 crore in Q2 FY27 from ₹307.18 crore in the year-ago quarter. Revenue from operations rose to ₹343.99 crore from ₹297.37 crore.
The company provides wealth management and investment-related services to high-net-worth and ultra-high-net-worth individuals. Its revenue is influenced by the assets it manages, the products distributed to clients, fees earned and the strength of its client relationships.
Higher AUM can support revenue growth by increasing the pool of client assets on which the company earns fees. However, the relationship is not automatic: market movements, the mix of financial products and changes in client activity can also affect revenue.
The latest results indicate that client inflows and the expansion of the company’s wealth management business supported revenue growth even as Indian equity markets faced pressure.
AUM Rises 18% to ₹1.08 Lakh Crore
Anand Rathi Wealth’s AUM increased to ₹1,08,377 crore as of September 30, 2026, compared with ₹91,568 crore a year earlier.
AUM represents the value of financial assets managed or serviced by a wealth management business. Growth can come from new client money, additional investments by existing clients and changes in the market value of assets.
The company reported record quarterly net inflows of ₹4,186 crore, an increase of 39% year-on-year. Equity mutual fund net inflows also reached a record ₹2,867 crore, up 39% from the same period last year.
These inflows are an important indicator because they show that clients continued to allocate money through the company during a period of market volatility. Nevertheless, net inflows and AUM growth are not the same: market movements can increase or reduce the value of assets independently of new client investments.
Key Business Growth Indicators
| Indicator | Q2 FY27 performance |
|---|---|
| Assets under management | ₹1,08,377 crore |
| AUM growth year-on-year | 18% |
| Quarterly net inflows | ₹4,186 crore |
| Net inflow growth year-on-year | 39% |
| Equity mutual fund net inflows | ₹2,867 crore |
| Equity mutual fund inflow growth | 39% |
| Mutual fund distribution revenue | ₹145 crore |
| Distribution revenue growth | 18% |
Source: The Economic Times and Financial Express.
Client Base and Relationship Managers Expand
Anand Rathi Wealth continued to increase its client base during the quarter. Active client families grew 12% year-on-year to 14,309, while the number of relationship managers increased to 431 from 386 a year earlier.
Relationship managers play an important role in wealth management by advising clients, understanding their financial goals and helping them navigate investment choices. Expanding this workforce can allow the company to serve more client families, although the long-term benefit depends on productivity, client retention and the quality of service.
The increase in client families also provides a potential foundation for future inflows. Existing clients may add assets over time, while new relationships can expand the company’s reach across different markets.
The company operates across multiple cities in India and has an international presence, including Dubai and London. It has also received regulatory approvals to start operations in GIFT City, according to company disclosures reported by the media.
First-Half FY27 Performance Remains Positive
For the first half of FY27, Anand Rathi Wealth reported adjusted consolidated PAT of approximately ₹237.8 crore, up 23% year-on-year. Revenue for the six-month period increased 17% to ₹693 crore.
On a reported basis, consolidated PAT for the first half was approximately ₹252.3 crore, compared with ₹193.6 crore in the corresponding period of the previous year. This differs from the year-on-year decline in reported profit during Q2 alone because the first-half comparison also includes the June quarter.
The first-half figures suggest that the company’s overall performance remained positive over the six-month period. Still, investors will need to monitor whether revenue growth, client inflows and profitability remain consistent in the second half.
Anand Rathi Wealth Declares ₹4 Interim Dividend
The company’s board declared an interim dividend of ₹4 per equity share for FY27. Each share has a face value of ₹5, making the announced dividend equivalent to 80% of face value.
The record date was fixed for October 15, 2026, to determine shareholders eligible to receive the dividend. The company stated that the payment would be credited or dispatched within 30 days of declaration, in accordance with applicable requirements.
An interim dividend represents a distribution of profits to eligible shareholders before the end of the financial year. The amount received by an investor depends on the number of eligible shares held, while the dividend yield depends on the share price.
The dividend announcement accompanies the quarterly results but should be assessed separately from the company’s operating performance and reported profitability.
The Bigger Picture
Anand Rathi Wealth’s Q2 FY27 results demonstrate continued expansion in client assets, record quarterly inflows and higher adjusted earnings. The increase in AUM and mutual fund inflows suggests that the company continued attracting client money despite a challenging equity-market environment.
However, the gap between adjusted and reported profit is important. Investors should examine the reconciliation between these measures, along with operating revenue, client inflows and the sustainability of earnings. A growing AUM base can support future fee income, but market volatility and changes in investor behaviour remain key risks for wealth management businesses.
Looking Ahead
The company’s next performance update will help establish whether record inflows translate into sustained AUM and revenue growth. Investors will watch client additions, relationship-manager productivity, fee income and the difference between adjusted and reported profit. Market conditions will also influence asset values and clients’ willingness to invest through equity-linked products.
For the full financial year, Anand Rathi Wealth has expressed confidence in its ability to deliver long-term growth of 20–25%, according to media reports. Whether that ambition is achieved will depend on continued client acquisition, investment flows and operating performance. The September-quarter results provide evidence of business expansion, but consistency across future quarters will be crucial in assessing the durability of that growth.
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