Competition desk · Listed wealth platforms · Apr–Jun 2026
Anand Rathi Wealth's June-quarter mutual fund fees rose 16.3% year on year while net new client money fell 28.3%
Anand Rathi Wealth, a listed firm that invests clients' money for them and earns from selling them mutual funds and other products, grew its fees from clients only 16.3% on mutual funds and 18.5% on other products in the June quarter, and the new money clients brought in, net of what they took out, fell 28.3% on a year earlier. Its profit still rose 73.6%, helped by a Rs 96 crore gain on the value of its holding in Anand Rathi Global Finance. For its clients, its shareholders and firms competing for the same clients, the profit jump says less about the client business than it seems.
From the firm's own quarterly filing; every figure covers the whole group, in both years. The firm's filing.
Anand Rathi Wealth's June-quarter profit rose 73.6%, yet the rise in its Other Income alone, most of it a Rs 96 crore mark-to-market gain on its holding in Anand Rathi Global Finance, was larger than the whole rise in profit before tax. The firm's revenue leaving out gains on investments grew 18.4% while total expenses grew 43.2%, so the business of serving clients earned less extra profit than the headline figure suggests. What we don't know is what becomes of that holding gain next quarter: repeated, simply absent, or reversed if Anand Rathi Global Finance is valued lower.
Why we think so3 reasons
On what grounds?
- The first reason is the size of the gain against the size of the profit rise. The change in the 'Others' row was 125.5% of the change in profit before tax, and the finance chief put Rs 96 crore of that row down to a mark-to-market gain on one holding. A rise in a holding's value is real, but it says nothing about how many clients the firm won or how much they paid.
- The second reason follows from the first: once that gain is set aside, the client business looks ordinary rather than exceptional. The firm's own figure leaving out gains on investments rose 18.4%, from mutual fund fees up 16.3% and other financial products up 18.5%, while total expenses rose 43.2%. Costs growing faster than client revenue is the opposite of what the profit headline implies.
- Both of those are about this quarter's income; the third is about the flow that feeds future income. Net new client money was Rs 2,743 crore, down 28.3% on the same quarter a year earlier, and net new money into equity mutual funds slipped 4.1%. Client money still rose 21.1%, but a third of that rise is the Unexplained difference, which the firm does not split; if it is mostly markets moving the value of what clients already held, as one would expect, markets can take it away as easily as they gave it.
What would prove us wrong3 trip-wires
What would we have to see to drop that read?
- First, the finance chief's remaining Other Income, the interest on spare cash, turning out to be large and steady, which would make the row less of a single holding's story.
- Second, next quarter's revenue leaving out investment gains rising as fast as costs, showing this quarter's cost growth was timing.
- Third, net new client money recovering above the level of a year earlier, showing the slower quarter was a pause.
How the quarter adds up
Against the same quarter a year earlier, which of Anand Rathi Wealth Limited's own lines moved, and by how much?
| Line | Apr–Jun 2026 | Apr–Jun 2025 | Change |
|---|---|---|---|
| Total income | Rs 432 crore | Rs 284 crore | +Rs 148 crore (+52.1%) |
| Finance cost | Rs 3.6 crore | Rs 4.0 crore | −Rs 0.42 crore (−10.4%) |
| Total expenses | Rs 226 crore | Rs 158 crore | +Rs 68 crore (+43.2%) |
| Profit before tax | Rs 206 crore | Rs 126 crore | +Rs 80 crore (+63.2%) |
| Revenue from mutual fund distribution | Rs 132 crore | Rs 113 crore | +Rs 18 crore (+16.3%) |
| Revenue from other financial products | Rs 189 crore | Rs 159 crore | +Rs 30 crore (+18.5%) |
| Revenue from it enabled services | Rs 1.6 crore | Rs 1.6 crore | Rs 0 crore (0.0%) |
| Revenue printed as 'others' | Rs 110 crore | Rs 10 crore | +Rs 100 crore (+992.1%) |
| Total revenue including fair value gains on investments | Rs 432 crore | Rs 284 crore | +Rs 148 crore (+52.2%) |
| Total revenue excluding fair value gains on investments | Rs 336 crore | Rs 284 crore | +Rs 52 crore (+18.4%) |
| Client money it manages | Rs 106,300 crore | Rs 87,797 crore | +Rs 18,503 crore (+21.1%) |
| Client money in mutual funds | Rs 59,919 crore | Rs 51,838 crore | +Rs 8,081 crore (+15.6%) |
| Client money in structured products | Rs 28,362 crore | Rs 23,653 crore | +Rs 4,709 crore (+19.9%) |
| Client money in other products | Rs 18,019 crore | Rs 12,307 crore | +Rs 5,712 crore (+46.4%) |
| Client money in its private wealth business | Rs 103,774 crore | Rs 85,742 crore | +Rs 18,032 crore (+21.0%) |
| Net new client money in the quarter | Rs 2,743 crore | Rs 3,824 crore | −Rs 1,081 crore (−28.3%) |
| Net new client money into equity mutual funds in the quarter | Rs 1,902 crore | Rs 1,983 crore | −Rs 81 crore (−4.1%) |
| Other income in its results filing | Rs 110 crore | Rs 10 crore | +Rs 100 crore (+990.8%) |
| The part of other income its finance chief called a gain on a holding | Rs 96 crore | — | no year-earlier reading |
| Profit | Rs 163 crore | Rs 94 crore | +Rs 69 crore (+73.6%) |
Rs crore, the whole group, as the firm printed them. Each change is arithmetic against a year earlier, not a cause.
Why Anand Rathi Wealth Limited is set against its own past
Why no comparison with other listed wealth platforms?
Too few other listed wealth platforms have published both quarters for a fair side-by-side, so this page sets Anand Rathi Wealth Limited against its own quarter a year earlier.
What to watch3 things to watch
What happens next, and when would we know?
- The September-quarter 'Others' row and whether the finance chief names another gain, or a loss, on the Anand Rathi Global Finance holding.
- The gap between total revenue with and without gains on investments, which shows how much profit rests on holdings rather than clients.
- Quarterly net new client money against the Rs 2,743 crore of this quarter.
Who this touches
Who could benefit and who is at risk, and on what condition?
Opinion · adds no figures the Facts do not hold · every effect is potential and states its condition
| Who | Potential effect | How it reaches them | How sure |
|---|---|---|---|
| Shareholders | ▼ potential riskif the Rs 96 crore holding gain does not recur or is marked down in a later quarter | Profit that rested on a rise in a holding's value falls away, and a share price set on this quarter's 73.6% profit rise would be resting on income that clients did not pay. | Inferred · the gain was spoken on the call, not printed as a line of the accounts |
| Asset managers (AMCs) | ▲ potential benefitif net new client money keeps flowing into equity mutual funds at around this quarter's pace | The firm placed Rs 1,902 crore of net new money into equity mutual funds this quarter, and client money in mutual funds rose 15.6%; fund houses it distributes for receive that money. | Inferred · one quarter, and the flow slipped 4.1% on a year earlier |
| Wealth managers & private banks | ◆ unclearpulls both ways: the firm's client money grew 21.1% while its quarterly net new money fell 28.3%; a second quarter of lower net new money would settle it towards rivals | Rival wealth firms compete for the same clients' money; slower net inflows at Anand Rathi Wealth could leave more of that money for others, while its growing client book says it is still winning. | Unresolved · only one comparable rival reports on the same basis |
Learn: reading Anand Rathi Wealth Limited's quarter
What Anand Rathi Wealth is. Anand Rathi Wealth Limited is a listed firm that looks after other people's investments: clients hand it money to place, and it earns mainly from selling them mutual funds and other financial products such as structured products. This card is for anyone who is its client, owns its shares, or competes with it for the same clients' money.
The other words behind these figures
The quarter being compared. Every figure here is for the three months to 30 June 2026, set against the same three months of 2025. Comparing a quarter with the same quarter a year earlier keeps seasonal swings out of the comparison.
Whole group, not one company. Every figure is on the consolidated basis: the parent company and the firms it controls, added together as one. Both years are on that same basis, so the comparison is like for like.
The two profit lines. The results filing prints profit before tax and profit after tax. The second is the bottom line, the part that belongs to shareholders; it was Rs 163.01 crore against Rs 93.91 crore a year earlier.
Total income and total expenses. Total income is everything the group earned in the quarter, Rs 432.26 crore; total expenses is everything it spent, Rs 226.06 crore. Finance cost, the interest the group itself pays on money it borrows, is a small part of expenses at Rs 3.58 crore.
What the 'Others' revenue row holds. The firm's investor presentation splits revenue into mutual fund distribution, other financial products, IT enabled services and a row printed as 'Others'. That row is the same number as the line the results filing calls Other Income: about Rs 110 crore this quarter against Rs 10.11 crore a year earlier. On the earnings call, the group chief financial officer said Rs 96 crore of it was a mark-to-market gain on the firm's holding in Anand Rathi Global Finance Limited, and that the rest was interest earned on the spare cash the firm carries.
What a mark-to-market gain is. It is a gain recorded because a holding is worth more at the end of the quarter than at the start, valued at that day's price, even though nothing was sold. A holding marked up this way can be marked down in a later quarter the same way. The Rs 96 crore figure was spoken on the call, in a transcript filed with the exchange; it is not a printed line of the accounts.
Revenue with and without fair value gains. The presentation prints total revenue twice: Rs 432.30 crore including gains on the value of investments, and Rs 336.40 crore on a page whose footnote says it leaves those gains out. The difference, Rs 95.90 crore, is our subtraction of the two printed figures; the firm does not print it as a line. It sits within a rounding of the Rs 96 crore the finance chief named.
Client money. Client money managed is the value of all investments the group looks after at the quarter's end: Rs 106,300 crore, up 21.1% on a year earlier. The private wealth business alone accounts for Rs 103,774 crore of it; the rest sits on the firm's digital and mutual fund distributor platform.
Net new money and the Unexplained difference. Net new client money is what clients put in minus what they took out: Rs 2,743 crore in this quarter, down 28.3% on the same quarter a year earlier, and Rs 12,377 crore over the four quarters to June 2026. That is 66.9% of the Rs 18,503 crore rise in client money. The other Rs 6,126 crore is an Unexplained difference: mostly, one would expect, the markets moving the value of what clients already held, but the firm does not print that split.
The peer group and the column. Listed wealth platforms is FinLens's own grouping of five listed firms that do similar work; no regulator names them as one set. Only two of the five, Anand Rathi Wealth and 360 ONE WAM, report June-quarter profit on the same consolidated basis for both years, so Edelweiss, Nuvama and Prudent are left out of the ranking. Both of the two rose, and neither had an ordinary quarter within 5% of the year before: Anand Rathi Wealth by 73.6%, the largest move in rupees and in percentage, and 360 ONE WAM by 16.1%.
Go deeper
The figures and where they came from
| Figure | Apr–Jun 2026 | Against a year earlier | Where from |
|---|---|---|---|
| Total income | Rs 432 crore | +52.1% | Firm's quarterly filing, the whole group · filing |
| Finance cost | Rs 3.6 crore | −10.4% | Firm's quarterly filing, the whole group · filing |
| Total expenses | Rs 226 crore | +43.2% | Firm's quarterly filing, the whole group · filing |
| Profit before tax | Rs 206 crore | +63.2% | Firm's quarterly filing, the whole group · filing |
| Profit | Rs 163 crore | +73.6% | Firm's quarterly filing, the whole group · filing |
| Revenue from mutual fund distribution | Rs 132 crore | +16.3% | Firm's quarterly filing, the whole group · filing |
| Revenue from other financial products | Rs 189 crore | +18.5% | Firm's quarterly filing, the whole group · filing |
| Revenue from it enabled services | Rs 1.6 crore | 0.0% | Firm's quarterly filing, the whole group · filing |
| Revenue printed as 'others' | Rs 110 crore | +992.1% | Firm's quarterly filing, the whole group · filing |
| Total revenue including fair value gains on investments | Rs 432 crore | +52.2% | Firm's quarterly filing, the whole group · filing |
| Total revenue excluding fair value gains on investments | Rs 336 crore | +18.4% | Firm's quarterly filing, the whole group · filing |
| Client money it manages | Rs 106,300 crore | +21.1% | Firm's quarterly filing, the whole group · filing |
| Client money in mutual funds | Rs 59,919 crore | +15.6% | Firm's quarterly filing, the whole group · filing |
| Client money in structured products | Rs 28,362 crore | +19.9% | Firm's quarterly filing, the whole group · filing |
| Client money in other products | Rs 18,019 crore | +46.4% | Firm's quarterly filing, the whole group · filing |
| Client money in its private wealth business | Rs 103,774 crore | +21.0% | Firm's quarterly filing, the whole group · filing |
| Net new client money in the quarter | Rs 2,743 crore | −28.3% | Firm's quarterly filing, the whole group · filing |
| Net new client money into equity mutual funds in the quarter | Rs 1,902 crore | −4.1% | Firm's quarterly filing, the whole group · filing |
| Other income in its results filing | Rs 110 crore | +990.8% | Firm's quarterly filing, the whole group · filing |
| The part of other income its finance chief called a gain on a holding | Rs 96 crore | no year-earlier reading | Firm's quarterly filing, the whole group · filing |
| Fair value gains on investments in the quarter to 30 Jun 2026 | Rs 95.90 crore | Our calculation, not printed by any publisher | |
| Net new client money over the four quarters 30 Jun 2025 to 30 Jun 2026 | Rs 12,377.00 crore | Our calculation, not printed by any publisher | |
| Unexplained difference: change in client money not accounted for by net new money, 30 Jun 2025 to 30 Jun 2026 (market movement and anything else) | Rs 6,126.00 crore | Our calculation, not printed by any publisher | |
| Net new client money as a share of the change in client money, 30 Jun 2025 to 30 Jun 2026 | 66.9% | Our calculation, not printed by any publisher |
How unusual, and said before
Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing changed up 73.6% year on year, against the same quarter a year earlier on the same consolidated basis; compared with its own past, not with peers -- only 2 of its group (Listed wealth platforms (FinLens's grouping). This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.) hold two comparable quarters, fewer than the 4 a peer comparison needs.
Of 5 other year-on-year comparisons of Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing for firms in Listed wealth platforms (FinLens's grouping) with a quarter in 2026, 0 moved the same way by at least Rs 69.10 crore, and 0 by at least 73.6% of the prior-year figure.
Audit trail: how this card was checked, and the store's own notes
Status: Clear. the quarter is filed and every figure is addressed
Only 2 of the 5 listed wealth platforms we track hold both quarters, fewer than the 4 a fair comparison needs. The group is FinLens's own grouping, not a regulator's list.
Computed by us, from the published figures:
- Change in Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing: Rs 69.10 crore, from the 2026-06-30 reading minus the 2025-06-30 reading of Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing
- Change in Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation: Rs 18.40 crore, from the 2026-06-30 reading minus the 2025-06-30 reading of Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation
- Change in Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation, as a share of the change in total income: 12.4%, from the change in Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation (Rs 18.40 crore) divided by the change in Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 148.00 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation, as a share of the change in profit before tax: 23.0%, from the change in Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation (Rs 18.40 crore) divided by the change in Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 79.85 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue from other financial products in the quarter, from the firm's own investor presentation: Rs 29.50 crore, from the 2026-06-30 reading minus the 2025-06-30 reading of Revenue from other financial products in the quarter, from the firm's own investor presentation
- Change in Revenue from other financial products in the quarter, from the firm's own investor presentation, as a share of the change in total income: 19.9%, from the change in Revenue from other financial products in the quarter, from the firm's own investor presentation (Rs 29.50 crore) divided by the change in Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 148.00 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue from other financial products in the quarter, from the firm's own investor presentation, as a share of the change in profit before tax: 36.9%, from the change in Revenue from other financial products in the quarter, from the firm's own investor presentation (Rs 29.50 crore) divided by the change in Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 79.85 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue from IT enabled services in the quarter, from the firm's own investor presentation: Rs 0.00 crore, from the 2026-06-30 reading minus the 2025-06-30 reading of Revenue from IT enabled services in the quarter, from the firm's own investor presentation
- Change in Revenue from IT enabled services in the quarter, from the firm's own investor presentation, as a share of the change in total income: 0.0%, from the change in Revenue from IT enabled services in the quarter, from the firm's own investor presentation (Rs 0.00 crore) divided by the change in Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 148.00 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue from IT enabled services in the quarter, from the firm's own investor presentation, as a share of the change in profit before tax: 0.0%, from the change in Revenue from IT enabled services in the quarter, from the firm's own investor presentation (Rs 0.00 crore) divided by the change in Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 79.85 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue printed as 'Others' in the quarter, from the firm's own investor presentation: Rs 100.20 crore, from the 2026-06-30 reading minus the 2025-06-30 reading of Revenue printed as 'Others' in the quarter, from the firm's own investor presentation
- Change in Revenue printed as 'Others' in the quarter, from the firm's own investor presentation, as a share of the change in total income: 67.7%, from the change in Revenue printed as 'Others' in the quarter, from the firm's own investor presentation (Rs 100.20 crore) divided by the change in Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 148.00 crore), 2025-06-30 to 2026-06-30, both consolidated
- Change in Revenue printed as 'Others' in the quarter, from the firm's own investor presentation, as a share of the change in profit before tax: 125.5%, from the change in Revenue printed as 'Others' in the quarter, from the firm's own investor presentation (Rs 100.20 crore) divided by the change in Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing (Rs 79.85 crore), 2025-06-30 to 2026-06-30, both consolidated
- Fair value gains on investments in the quarter to 2026-06-30: Rs 95.90 crore, from computed by us, not printed: the deck's printed Total revenue in the quarter, including fair value gains on investments, from the firm's own investor presentation (Rs 432.30 crore) minus its printed Total revenue in the quarter, excluding fair value gains on investments, from the firm's own investor presentation (Rs 336.40 crore), both for 2026-06-30, both consolidated
- Change in client money it manages, 2025-06-30 to 2026-06-30: Rs 18,503.00 crore, from client money at 2026-06-30 (Rs 106,300.00 crore) minus client money at 2025-06-30 (Rs 87,797.00 crore), both consolidated, each as printed in the firm's investor presentation
- Net new client money over the four quarters 2025-06-30 to 2026-06-30: Rs 12,377.00 crore, from the sum of the four quarters' net new client money as the firm printed each one, Rs crore: 3,002 (quarter to 2025-09-30), 3,253 (quarter to 2025-12-31), 3,379 (quarter to 2026-03-31), 2,743 (quarter to 2026-06-30); all consolidated
- Unexplained difference: change in client money not accounted for by net new money, 2025-06-30 to 2026-06-30 (market movement and anything else): Rs 6,126.00 crore, from the change in client money (Rs 18,503.00 crore) minus the four quarters' net new client money (Rs 12,377.00 crore), 2025-06-30 to 2026-06-30, both consolidated; the firm does not print this split
- Net new client money as a share of the change in client money, 2025-06-30 to 2026-06-30: 66.9%, from Rs 12,377.00 crore divided by Rs 18,503.00 crore, 2025-06-30 to 2026-06-30, both consolidated
Exact figures: Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing Rs 432.26 crore (consolidated), Rs 148.00 crore (+52.1%) against 2025-06-30; Finance cost, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing Rs 3.58 crore (consolidated), Rs −0.42 crore (−10.4%) against 2025-06-30; Total expenses, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing Rs 226.06 crore (consolidated), Rs 68.16 crore (+43.2%) against 2025-06-30; Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing Rs 206.20 crore (consolidated), Rs 79.85 crore (+63.2%) against 2025-06-30; Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing Rs 163.01 crore (consolidated), Rs 69.10 crore (+73.6%) against 2025-06-30; Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation Rs 131.50 crore (consolidated), Rs 18.40 crore (+16.3%) against 2025-06-30; Revenue from other financial products in the quarter, from the firm's own investor presentation Rs 188.80 crore (consolidated), Rs 29.50 crore (+18.5%) against 2025-06-30; Revenue from IT enabled services in the quarter, from the firm's own investor presentation Rs 1.60 crore (consolidated), Rs 0.00 crore (+0.0%) against 2025-06-30; Revenue printed as 'Others' in the quarter, from the firm's own investor presentation Rs 110.30 crore (consolidated), Rs 100.20 crore (+992.1%) against 2025-06-30; Total revenue in the quarter, including fair value gains on investments, from the firm's own investor presentation Rs 432.30 crore (consolidated), Rs 148.20 crore (+52.2%) against 2025-06-30; Total revenue in the quarter, excluding fair value gains on investments, from the firm's own investor presentation Rs 336.40 crore (consolidated), Rs 52.30 crore (+18.4%) against 2025-06-30; Client money managed (AUM), period end, whole group, from the firm's own investor presentation Rs 106,300.00 crore (consolidated), Rs 18,503.00 crore (+21.1%) against 2025-06-30; Client money in mutual funds (equity and debt), period end, from the firm's own investor presentation Rs 59,919.00 crore (consolidated), Rs 8,081.00 crore (+15.6%) against 2025-06-30; Client money in structured products, period end, from the firm's own investor presentation Rs 28,362.00 crore (consolidated), Rs 4,709.00 crore (+19.9%) against 2025-06-30; Client money in other products, period end, from the firm's own investor presentation Rs 18,019.00 crore (consolidated), Rs 5,712.00 crore (+46.4%) against 2025-06-30; Client money in the private wealth business, period end, from the firm's own investor presentation Rs 103,774.00 crore (consolidated), Rs 18,032.00 crore (+21.0%) against 2025-06-30; Net new client money in the quarter (total net inflows), from the firm's own investor presentation Rs 2,743.00 crore (consolidated), Rs −1,081.00 crore (−28.3%) against 2025-06-30; Net new client money into equity mutual funds in the quarter, from the firm's own investor presentation Rs 1,902.00 crore (consolidated), Rs −81.00 crore (−4.1%) against 2025-06-30; Other income (the statutory 'Other Income' line), whole group, from the firm's own quarterly results filing Rs 110.28 crore (consolidated), Rs 100.17 crore (+990.8%) against 2025-06-30; Mark-to-market gain on a holding in another company, inside other income, AS SPOKEN by the firm's CFO on its earnings call (filed transcript, not a line of the accounts) Rs 96.00 crore (consolidated).
What the source itself warns about
- Total income, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set. peer group declared by FinLens, not a regulator.
- Finance cost, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set. peer group declared by FinLens, not a regulator.
- Total expenses, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set. peer group declared by FinLens, not a regulator.
- Profit before tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set. peer group declared by FinLens, not a regulator.
- Profit after tax, one firm in Listed wealth platforms (FinLens's grouping), from its own quarterly filing. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set. peer group declared by FinLens, not a regulator.
- Revenue from mutual fund distribution (equity and debt) in the quarter, from the firm's own investor presentation. Revenue table row 'MF - Equity & Debt'. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Revenue from other financial products in the quarter, from the firm's own investor presentation. Revenue table row 'Other financial products' (structured products and the like). This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Revenue from IT enabled services in the quarter, from the firm's own investor presentation. Revenue table row 'IT enabled services'. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Revenue printed as 'Others' in the quarter, from the firm's own investor presentation. Revenue table row 'Others'. The deck does not say what the row contains. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Total revenue in the quarter, including fair value gains on investments, from the firm's own investor presentation. The revenue table's printed 'Total Revenue' row (the statutory figure, as the table under the revenue lines prints it). This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Total revenue in the quarter, excluding fair value gains on investments, from the firm's own investor presentation. The highlights table's printed 'Total Revenue', on a page whose footnote says the results exclude fair value gains on investments. The firm's own non-statutory figure. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Client money managed (AUM), period end, whole group, from the firm's own investor presentation. PERIOD-END stock, the deck's 'Total AUM' row. Includes the digital/MFD platform, not only private wealth. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Client money in mutual funds (equity and debt), period end, from the firm's own investor presentation. The AUM table's 'MF - Equity & Debt' row. Not the revenue row of the same name. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Client money in structured products, period end, from the firm's own investor presentation. The AUM table's 'Structured Products' row. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Client money in other products, period end, from the firm's own investor presentation. The AUM table's 'Others' row. Not the revenue 'Others' row. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Client money in the private wealth business, period end, from the firm's own investor presentation. Private wealth segment only (Key Operational Highlights slide); smaller than whole-group AUM. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Net new client money in the quarter (total net inflows), from the firm's own investor presentation. A FLOW over the quarter, read off the 'Total Net-Inflows' bar chart. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Net new client money into equity mutual funds in the quarter, from the firm's own investor presentation. A FLOW over the quarter, read off the 'Equity Mutual Funds Net-Inflows' bar chart. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Other income (the statutory 'Other Income' line), whole group, from the firm's own quarterly results filing. Filed in Rs lakh; stored in crore (lakh / 100). The investor presentation prints this same line as revenue 'Others'. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.
- Mark-to-market gain on a holding in another company, inside other income, AS SPOKEN by the firm's CFO on its earnings call (filed transcript, not a line of the accounts). Spoken in a call transcript filed with the exchange; not audited, reviewed or printed in the results. The holding it names is in the reading's note. This peer group is FinLens's own judgement, not a regulator's list: no official register names these firms as one set.