Anand Rathi management met yearly target in 6 months & revised guidance upwards. Here’s how

economictimes.indiatimes.com:

Anand Rathi, Founder & Chairman, Anand Rathi Group and Rakesh Rawal, CEO, Anand Rathi Wealth in conversation with ET Now. Rathi says “the inflow in our equity mutual fund has increased. Now the equity mutual fund accounts for 50% of our AUM compared to 48% a year back. Even when the markets had outflow in mutual funds, we had positive inflows. We are expecting continuous inflow into mutual funds. ” You have managed to achieve your FY24 AUM guidance of Rs 47,000 crore in the first half itself. What are the underlying factors and what is the new target you are eyeing now?
Rakesh Rawal: AUM is a combination of the new monies that we get, as well as the increase in the fund value on account of the market. In the first six months, the market was very positive which led to the numbers being achieved earlier. We have done exceptionally well in terms of gathering fresh funds as well. Having achieved this, obviously in the next six months, we expect to do more. And therefore our revised guidance for the end of the year is now Rs 51,000 crore.

Mr Rathi, you have also managed to achieve over 50% of your revenue and profitability target. Would you be looking to revise this?
Anand Rathi: Yes, we will. In fact, the last time we gave a profitability target of Rs 205 crore for the whole year. As you rightly said, we achieved more than 50%. And therefore, we are revising our target to Rs 220 crore for the whole year, increasing by Rs 15 crore profit PAT for the year.

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Any revision in the revenue target then?
Anand Rathi: Yes, from Rs 661