SSPL WEALTH PVT LTD

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360 ONE WAM jumps after Q4 PAT rises 24% YoY to Rs 241 cr

24-Apr-24 11:54 Hrs IST

Revenue from operations increased 45.8% YoY to Rs 573 crore in Q4 FY24.

Profit before tax increased 37.4% to Rs 323 crore in Q4 FY24 as compared with Rs 200 crore in Q4 FY23.

Assets under Management (AUM) stood at Rs 4,66,909 crore, consisting of Wealth Management AUM of Rs 3,94,661 crore and Asset Management AUM of Rs 72,248 crore.

As on March 31, 2024, Annual recurring revenue (ARR) AUM stood at Rs 2,27,879 crore, up 36% YoY.

ARR AUM of Wealth Management jumped 43% YoY to Rs 1,55,631 crore supported by robust growth across segments. Its discretionary / non-discretionary / advisory proposition (360 ONE Plus) saw growth of 71%, while distribution and lending businesses grew by 26% and 20% respectively. Asset Management ARR AUM jumped 24% to Rs 72,248 crore driven by growth in AIF (+10%) and Discretionary PMS (+31%) segments, while MF AUM nearly doubled to Rs 9,580 crore.

On financial year 2024 basis, the company?s net profit jumped 20% to Rs 802 crore on 17.9% increase in revenue from operations to Rs 1,846 crore in FY24 over FY23.

Meanwhile, the company?s board has declared a dividend of Rs 3.5 per share for FY25. The record date for the same is fixed as on Thursday, 2 May 2024. He said dividend will be paid on or before 22 May 2024.

Karan Bhagat (Founder, MD & CEO) said, ?We are happy to report that the Company recorded its highest ever annual profit in FY24. 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.

Looking forward, we are optimistic about the substantial wealth opportunity beyond Tier-1 cities and have an expansion plan for our domestic coverage. In addition to this, we expect to leverage the strength of our core platform and innovative competences to fuel high growth in the HNI segment as well as become a favoured manager of global capital looking to access India. The unique blend of macro tailwinds and our distinctive proposition continues to consolidate our position as one of the leading players in India.?

360 ONE WAM (formerly known as IIFL Wealth Management) is a private wealth management firm in India. It serves the needs of high net worth and ultra-high net worth individuals, affluent families, family offices and institutional clients through a comprehensive range of tailored wealth management solutions.