Nuvama Wealth Management Q2 operating profit rises 26 pc to Rs 319 crore

Mumbai, Nov 6 (TNT) : Nuvama Wealth Management Limited on Friday reported a 26 per cent year-on-year increase in operating profit after tax at Rs 319 crore for the second quarter of FY27, compared to Rs 254 crore in the corresponding quarter of the previous financial year.

The company’s consolidated revenue rose 21 per cent to Rs 937 crore during the July-September quarter, against Rs 772 crore in the year-ago period.

Costs increased 16 per cent to Rs 507 crore from Rs 437 crore, the company said in a release.

For the first half of FY27, operating profit after tax grew 21 per cent to Rs 625 crore, compared to Rs 518 crore in the corresponding period last year.

Revenue increased 20 per cent to Rs 1,846 crore from Rs 1,542 crore, while costs rose 17 per cent to Rs 1,008 crore.

The Wealth Management business registered 22 per cent growth in profit before tax at Rs 184 crore during the quarter, while Asset Services and Capital Markets recorded a 34 per cent increase to Rs 259 crore.

During the first half, profit before tax from Wealth Management rose 21 per cent to Rs 332 crore, while Asset Services and Capital Markets registered 26 per cent growth at Rs 527 crore.

The company’s total client assets increased 25 per cent year-on-year to Rs 5.5 lakh crore, while MPIS and ARR client assets across Nuvama Wealth and Private grew 27 per cent to nearly Rs 1.1 lakh crore.

The company attributed its performance to the strength of its integrated wealth management platform, sustained client confidence and diversified business operations.

TNT KM