360 ONE WAM Reports Strong Q1 Results: ARR AUM Surges 30% YoY to Rs 2.87 Lakh Crore
360 One WAM Limited reported robust Q1 financial results. Total AUM increased 30% year-over-year to Rs 2,87,317.00 crore, supported by net flows of Rs 20,950.00 crore. ARR Revenue grew 35.9% to Rs 511.00 crore. PAT reached a record Rs 287.00 crore, up 18% year-over-year. The company completed the acquisition of B&K Securities, received approvals for UBS collaboration, and is integrating ET Money. Management targets 12-15% net flows of opening ARR AUM for the full year.

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360 One WAM Limited, a leading wealth and asset management company, has reported robust financial results for the first quarter, showcasing significant growth across key metrics.
Strong Growth in Assets Under Management
The company's total Assets under Management (AUM) on an Annualized Recurring Revenue (ARR) basis increased by 30% year-over-year to Rs 2,87,317.00 crore. This impressive growth was supported by strong net flows of Rs 20,950.00 crore, which included Rs 18,266.00 crore from the recently acquired B&K Securities.
Solid Financial Performance
360 ONE WAM's ARR Revenue for Q1 grew by 35.9% year-over-year to Rs 511.00 crore, representing 77% of total revenues from operations. The company achieved its highest quarterly Profit After Tax (PAT) of Rs 287.00 crore, marking an 18% increase compared to the same period last year.
Total revenue for the quarter stood at Rs 725.00 crore, while costs increased by 32.7% to Rs 351.00 crore. The cost-to-income ratio improved to 48.4% compared to 50.7% in the previous quarter.
Key Business Highlights
B&K Securities Acquisition: The company successfully completed the acquisition of B&K Securities in May, strengthening its broking and transactional platform within the Wealth Management franchise.
UBS Collaboration: 360 ONE WAM received all required regulatory approvals for its strategic collaboration with UBS, which is expected to enhance the company's global reach and wealth management capabilities.
ET Money Integration: The company is making progress in integrating ET Money, aiming to penetrate the mass affluent segment and drive growth in its rapidly expanding client base.
Asset Management Growth: The company continues to focus on deepening its channel presence in the domestic market, particularly through Mutual Fund Distributors (MFDs).
Management Commentary
Karan Bhagat, Managing Director & CEO of 360 ONE WAM, commented on the results: "We are pleased with our strong performance in Q1, which reflects the robustness of our business model and the successful execution of our growth strategies. The integration of B&K Securities and our collaboration with UBS are set to unlock new opportunities and enhance our value proposition to clients."
Outlook
The company remains optimistic about its growth prospects, targeting net flows of 12-15% of opening ARR AUM for the full year. Management anticipates gradual yield compression of 2-3 basis points due to business mix changes but expects to maintain strong retention rates on ARR AUM.
360 ONE WAM continues to focus on expanding its product offerings, strengthening its distribution network, and leveraging strategic partnerships to drive sustainable growth in the wealth and asset management sector.
Recent Corporate Developments
In a separate announcement, 360 ONE WAM Limited received an ESG rating of 'ESG 65' from NSE Sustainability Ratings and Analytics Limited for the financial year ended March 31, 2024. This rating reflects the company's commitment to environmental, social, and governance practices.
As 360 ONE WAM continues to strengthen its position in the wealth and asset management industry, investors and stakeholders will be watching closely to see how the company capitalizes on its recent strategic moves and navigates the evolving financial landscape.
Historical Stock Returns for 360 One WAM
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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-0.02% | -2.36% | -10.46% | +2.82% | -4.24% | +319.89% |