360 One Wealth shares jumped 16% in Wednesday\’s early trading session to the day’s high at Rs 887 after the company announced its Q4 results on Tuesday, with a net profit of Rs 241 crore, which was up 24.3% quarter-on-quarter (QoQ).
Total Revenues stood at Rs 623 crore, rising 33.6% QoQ.
The overall Assets Under Management (AUM) stood at Rs 4.7 lakh crore as of March 2024 while annual recurring revenue (ARR) AUM at approximately Rs 2.28 lakh crore, an increase of 36.3% year-on-year (YoY) And 3.2% QoQ.
The board of 360 One has also approved their first interim dividend for the year ended March 31, 2025, at Rs 3.50 per share.
“Last year, India sustained its position as one of the fastest-growing economies, globally. The increasing trend of financialisation of traditional assets and savings, and new wealth creation from monetization events, continue to present a substantial opportunity for the wealth and asset management sector,” said Karan Bhagat, CEO and founder of 360 One.
“We are happy to report that the company recorded its highest ever annual profit in FY24,” adds Bhagat, “As in the last 16 years, our focus continues to be on the key tenets of client centricity, product innovation, and process orientation, we remain humbled by the trust and faith of our increasing base of clients and investors”.
360 ONE is a leading financial services provider, offering specialized solutions in the field of wealth and asset management.
Also read: HDFC Bank, RIL drive Sensex 200 pts higher; Nifty above 22,400
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
