Internet revenue after tax elevated by 7% to Rs 185 crore

Business Standard

Illustration: Ajay Mohanty

360 ONE WAM Ltd on Friday reported a 7 per cent development in revenue after tax (PAT) to Rs 185 crore within the September quarter of the present monetary 12 months.

As compared, the corporate posted a revenue after tax of Rs 173 crore within the year-ago interval, 360 ONE WAM, previously often called IIFL Wealth Administration, mentioned in a press release.

The corporate’s complete income rose 9 per cent to Rs 441 crore within the quarter underneath assessment from Rs 405 crore within the July-September quarter of the earlier monetary 12 months 2022-23.

“Our market share estimate, which incorporates each the UHNI (Extremely Excessive Internet Value People) and HNI (Excessive Internet Value People) segments, is round 4-5 per cent.

“With the introduction of recent buyer segments to cater to the Rs 25 lakh crore market, and an expanded geographic footprint in India and overseas, we see an enormous alternative to double our market share over the subsequent 5 years. All our development initiatives have been designed to attain a greater development potential,” mentioned Karan Bhagat, MD & President. CEO of 360 ONE WAM: “We’re reaching this objective.”

As well as, the corporate introduced a 3rd interim dividend of Rs 4 per share for the present monetary 12 months (2023-2024).

(Solely the title and picture of this report could have been reworked by Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)

First printed: November 3, 2023 | 3:30 pm he

(Tags for translation)Wealth Administration

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