Shares of 360 ONE WAM dropped 7% after the company announced its Q3 FY25 results on Monday. As of 9:42 AM, the shares were trading 7.34% lower at Rs 997.55.
Despite the dip in stock price, the asset manager reported robust financial performance for the three months ending December 2024. Net profit rose 43.9% year-on-year (YoY) to ₹276.5 crore, compared to ₹192.1 crore in the previous year.
Revenue surged by 20.6% YoY to ₹759.8 crore, driven by strong growth in annual recurring revenue (ARR), which grew 26.2% YoY to ₹426 crore. Combined ARR retention improved to 70 basis points (bps) from 68 bps in Q2 FY25. Consolidated profit after tax stood at ₹275 crore, marking a 41.7% YoY increase.
The company’s Assets Under Management (AUM) reached ₹5.8 lakh crore, comprising ₹2.5 lakh crore in ARR AUM and ₹3.3 lakh crore in transactional/brokerage AUM. In the Wealth Management segment, ARR AUM rose 39% YoY to ₹1.6 lakh crore, fueled by a 49% growth in the 360 ONE Plus proposition and strong performances in Distribution and Lending, which grew 32% and 40% YoY, respectively. The Asset Management segment also saw ARR AUM grow 23% YoY to ₹85,250 crore, led by Listed Equity, Private Equity, and Credit.
Also, 360 ONE WAM announced the acquisition of Batlivala & Karani Securities (B&K), a move set to bolster its market position with enhanced research, advisory, and execution capabilities across services and new market segments, subject to regulatory approval.
360 One WAM shares opened at ₹1,059.90 and hit a high of ₹1,059.90 before dipping to a low of ₹981.65 during trading. The stock remains within its 52-week range of ₹597.25 to ₹1,318.00, showcasing significant volatility.
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