360 One Wam (360ONE) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 PAT reached INR 247 crores, up 33.4% YoY, with total revenues at INR 618 crores, up 40.1% YoY, driven by strong recurring and transactional income.

• ARR AUM grew 41% YoY to INR 242,619 crores; total AUM rose 38% YoY to INR 5,69,372 crores, with robust net flows and market performance.

• Wealth ARR AUM increased 45% YoY to INR 156,849 crores; AMC ARR AUM up 33% YoY to INR 85,770 crores.

• Over 160 new clients with more than INR 10 crores ARR AUM onboarded in Q2; private equity and credit funds raised INR 5,000 crores in commitments.

• Continued leadership in wealth and asset management, with 7,500+ client families and 28 offices.

Financial highlights

• Revenue from operations for Q2 FY25 was INR 589 crores, up 37.7% YoY; ARR revenue was INR 397 crores, up 27.8% YoY.

• Transactional/brokerage income grew 64% YoY to INR 191 crores; operating profit before tax was INR 289 crores, up 35.8% YoY.

• Cost-to-income ratio was 48.4% for Q2; employee costs at INR 224 crores and other costs at INR 75 crores.

• Tangible net worth stood at INR 3,251 crores; tangible ROE at 31.2% in Q2 FY25.

• Net profit margin was 41% (includes exceptional item); EPS (basic, after exceptional item) was INR 5.12 for H1 FY25.

Outlook and guidance

• Full-year net flow guidance of INR 25,000-30,000 crores remains, with potential for upward revision if market conditions hold.

• Focus on redeploying profits to support business growth in wealth and asset management, with strategic initiatives in HNI/UHNI segments, global platform, and digital innovation.

• Acquisition of ET Money (pending regulatory approval) to enhance WealthTech positioning.

• Dividend policy revised to 25%-40% payout of profits, down from previous 65%-80%, and shifted to annual payout.

• QIP can be executed anytime in the next year following shareholder approval.