360 ONE WAM Limited, a prominent wealth and asset management firm in India, announced its financial results for the quarter ending September 30, 2024, highlighting impressive growth driven by its asset management business.
Key Financial Highlights:
- Net Profit (PAT): The consolidated net profit surged by 33.4% year-on-year (YoY) to ₹247 crore in Q2 FY25, compared to ₹185 crore in the same quarter last year, driven by increased revenues and cost management.
- Revenue from Operations: The company saw a 37.7% YoY rise in revenue from operations, reaching ₹589 crore, up from ₹427 crore in Q2 FY24. This rise was primarily due to higher activity in the wealth management and brokerage segments.
- Total Revenue: The total revenue for the quarter stood at ₹618 crore, marking a 40.1% increase from ₹441 crore in Q2 FY24. Other income also doubled, contributing ₹30 crore compared to ₹14 crore in the same quarter last year.
- Operating Profit Before Tax (OPBT): Despite the robust YoY growth, operating profit before tax fell by 13.7% quarter-on-quarter (QoQ) to ₹289 crore, although it was 35.8% higher YoY compared to ₹213 crore in Q2 FY24. The QoQ decline was primarily due to higher operating expenses.
- Total Expenses: Total expenses for the quarter rose to ₹299 crore, reflecting a 39.6% YoY increase from ₹214 crore in Q2 FY24, largely attributed to increased business activities and operating costs.
The results show a solid year-on-year performance despite quarter-on-quarter pressures, signaling growth in 360 ONE WAM’s wealth management and brokerage segments.
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