Anand Rathi Wealth Q1 FY27 PAT up 24%, AUM tops ₹1L cr

Stock reaction after Q1 update

Anand Rathi Wealth shares rose 2.27% to ₹2,146.40 after the company reported higher profit and revenue for the June 2026 quarter. The move came as the company also disclosed that assets under management (AUM) crossed the ₹1 lakh crore mark for the first time. The quarter was described as one marked by heightened market volatility linked to geopolitical tensions. Despite that backdrop, the company reported growth across multiple operating and client metrics. The results were reported for Q1 FY27, compared with the same period last year.

Q1 FY27 profit growth: reported numbers

For Q1 FY27, the company reported consolidated profit after tax (PAT) of about ₹116 crore, up 24% year-on-year from ₹93.8 crore in the corresponding quarter last year. In another summary of the same quarter, consolidated net profit was reported at ₹115.9 crore, up 23.5% year-on-year. The company also disclosed an alternate set of numbers that include fair value gains and ESOP expenses, where PAT was ₹163 crore. The company noted that its Q1 FY27 results, on an adjusted basis, exclude fair value gains on investments, ESOP expenses, and related tax effects.

Revenue growth and what it includes

Revenue figures were presented in more than one way across the disclosures. Revenue from operations was reported at ₹336.4 crore, up 18% year-on-year, in one report of the quarter. Separately, revenue was reported at ₹322 crore, up 17.5% year-on-year, for Q1 FY27 versus Q1 FY26. On an adjusted basis excluding fair value gains and ESOP expenses, total revenue for Q1 FY27 was stated at about ₹336 crore, up 18% year-on-year. Including fair value gains and ESOP expenses, total revenue was reported at ₹430 crore. The company also said other income of ₹110 crore was mainly from mark-to-market gains in NBFC holdings.

Segment detail: mutual fund distribution

Within revenue, the mutual fund distribution business was highlighted as a key contributor. Revenue from mutual fund distribution increased 16% year-on-year to ₹132 crore during the quarter. The company attributed the overall operating performance to continued client acquisition and scale in the wealth management franchise. The quarter also showed more cautious investor behaviour, which was reflected in net inflows. Net inflows stood at ₹2,743 crore in Q1 FY27, compared with ₹3,824 crore in the year-ago period.

Expenses moved higher, led by staff costs

Total expenses for Q1 FY27 were reported at ₹180.1 crore, up 14.1% year-on-year. The increase was attributed primarily to higher employee expenses and other expenses. Employee expenses rose 13.4% year-on-year, while other expenses rose 15.8% year-on-year. The company also reported a PAT margin of 34.4%, up from 33% on the adjusted basis it cited. These cost and margin disclosures were presented alongside the adjusted revenue and profit numbers that exclude fair value changes and ESOP-related costs.

AUM crosses ₹1.06 lakh crore milestone

A key operational highlight was the jump in AUM. As on 30 June 2026, AUM was reported at ₹1,06,300 crore, up 21% year-on-year. In the same context, the company stated AUM had surpassed the ₹1 lakh crore mark for the first time, reaching about ₹1.06 lakh crore. The AUM level is important for wealth managers because it directly links to fee potential and recurring revenue visibility. The company positioned the milestone as an outcome of client acquisition and retention.

Client additions, attrition and relationship manager strength

The number of active private wealth client families grew 13% year-on-year to 13,941. The company said it onboarded 1,611 new client families on a net basis over the last twelve months, taking the total to 13,941 families. Client attrition, measured by AUM lost, was stated at 0.09%. It also reported zero regret relationship manager attrition during the quarter. Relationship manager strength increased by 35 over the past year to 417, according to the company filing referenced in the report.

FY27 guidance and Q1 progress

The company guided for a profit of ₹460 crore in FY27. It also guided for FY27 revenue of ₹1,415 crore, and said it achieved nearly 24% of that revenue guidance in the first quarter. It also said it achieved 25% of its full-year PAT guidance in Q1. These disclosures provide a reference point for investors tracking whether quarterly execution is broadly aligned with the company’s full-year targets.

Consolidated filing metrics also disclosed in lakh

The company also disclosed consolidated financial highlights in lakh terms for Q1 FY27. Revenue from operations was stated at ₹32,198.50 lakh, which is ₹321.99 crore. Total income was ₹43,226.29 lakh, which is ₹432.26 crore. Profit before tax (PBT) was ₹20,620.13 lakh, which is ₹206.20 crore. Net profit for the period was ₹16,300.77 lakh, which is ₹163.01 crore, and basic EPS was ₹9.82 for Q1 FY27. These figures align with the “including fair value gains and ESOP expenses” presentation that reported total revenue of about ₹430 crore and PAT of about ₹163 crore.

Key numbers at a glance

What the quarter signals for investors

The quarter combined higher profitability with a slower net inflow number versus last year, a mix that investors typically track closely in wealth management. The AUM milestone above ₹1 lakh crore, along with client family growth and low reported attrition, suggests continued franchise expansion. At the same time, the company’s disclosures show that reported profits can vary depending on whether fair value gains and ESOP expenses are included, making the adjusted versus reported split important to read carefully. The company’s stated progress against FY27 revenue and PAT guidance provides an additional benchmark for the coming quarters.

Conclusion

Anand Rathi Wealth’s Q1 FY27 update showed PAT growth of about 24% year-on-year, revenue growth in the high teens, and AUM rising 21% to ₹1,06,300 crore as of 30 June 2026. The company also reiterated full-year guidance of ₹1,415 crore revenue and about ₹460 crore PAT for FY27, with Q1 tracking at roughly a quarter of those targets. Future quarters are expected to provide clearer evidence on how inflows and revenue mix evolve under volatile market conditions.