360 ONE WAM Limited, a leading wealth and asset management firm in India, announced its financial results for the quarter ended September 30, 2024, showcasing strong performance driven by growth in its asset management business.
Key Financial Highlights:
- Net Profit (Profit After Tax): The consolidated net profit for Q2 FY25 increased by 33.4% year-on-year (YoY) to ₹247 crore compared to ₹185 crore in Q2 FY24. This growth was driven by higher revenues and efficient cost management.
- Revenue from Operations: The company reported a 37.7% YoY rise in revenue from operations, amounting to ₹589 crore for the quarter, up from ₹427 crore in the same period last year. The surge in revenues was primarily due to increased activity in the wealth management and brokerage segments.
- Total Revenue: 360 ONE WAM’s total revenue for Q2 FY25 stood at ₹618 crore, reflecting a 40.1% increase from ₹441 crore in Q2 FY24. Other income contributed ₹30 crore this quarter, which was more than double the ₹14 crore reported in the same quarter last year.
- Operating Profit Before Tax (OPBT): The operating profit before tax declined by 13.7% quarter-on-quarter (QoQ) to ₹289 crore but rose 35.8% YoY compared to ₹213 crore in Q2 FY24. The QoQ decline was due to a rise in total expenses, which increased by 13.0% QoQ.
- Total Expenses: Total expenses were ₹299 crore in Q2 FY25, a 39.6% rise from ₹214 crore in Q2 FY24, attributed to increased business activities and higher operating costs.
Business Performance and ARR Growth:
- Annual Recurring Revenue (ARR): The company’s ARR revenue rose by 27.8% YoY to ₹397 crore, up from ₹311 crore in Q2 FY24, supported by robust client acquisition and growth in the asset management segment.
- Assets Under Management (AUM): 360 ONE WAM’s total AUM as of September 30, 2024, stood at ₹5,69,372 crore, comprising ARR AUM of ₹2,42,619 crore and transactional/brokerage AUM of ₹3,26,753 crore. Notably, wealth management ARR AUM grew by 45% YoY to ₹1,56,849 crore, while asset management ARR AUM increased by 33% YoY to ₹85,770 crore.
Management Commentary:
Karan Bhagat, Founder, MD & CEO, said, “Our Q2 results reflect our continued focus on asset growth and enhancing our client mix, alongside notable deal activity in our private credit and private equity segments. Clients seek trusted brands, expert advisors, and access to innovative products—key drivers of growth in the wealth and asset management industry. As a leader in wealth management and alternatives-focused asset management, we remain committed to further solidifying our growth trajectory.”
