Nuvama Wealth Management Limited Announces Q4 FY24 Results, Delivering robust Year-over-Year Growth of 57% in Operating PAT
- Revenues: Q4 FY24 stood at US $ 71 million, grew by 35% YoY and FY24 at US $ 247 million, grew by 31% YoY.
- Operating Profit After Tax (PAT): Q4 FY24 stood at US $ 22 million, grew by 57% YoY and FY24 at US $ 72 million, grew by 62% YoY.
- Sustained robust growth in Wealth and Asset Management, FY24 revenues grew by 18% YoY. Capital Markets FY24 revenue grew by 64% YoY supported by robust primary and secondary Indian markets.
Particulars - US $ million |
|
Q4 FY23 |
Q4 FY24 |
YoY % |
|
FY23 |
FY24 |
YoY % |
Revenues |
|
53 |
71 |
35 % |
|
189 |
247 |
31 % |
Costs |
|
34 |
43 |
25 % |
|
130 |
153 |
18 % |
Operating Profit Before Tax (PBT) |
|
18 |
29 |
55 % |
|
59 |
94 |
60 % |
Operating Profit After Tax (PAT) |
|
14 |
22 |
57 % |
|
44 |
72 |
62 % |
Commenting on the performance
Our client assets stood at US
As we enter fiscal 2025, we remain watchful on some of key global and domestic trends that may play out in coming quarters. We are confident on the long-term growth prospects of Wealth Management industry in
Key Highlights
-
Wealth Management
-
- Revenues: US $ 40 million in Q4 FY24, grew by 16%YoY and US $ 142 million in FY24, grew by 17%YoY
- PBT: US $ 14 million in Q4 FY24, grew by 15%YoY and US $ 50 million in FY24, grew by 24%YoY.
- Client Assets: US $ 29.7 billion as at end of Q4 FY24, grew by 36% YoY.
- Added ~230 new RMs this fiscal, taking our RM count to ~1,200.
- Nuvama Wealth: Revenues and net flows from Managed Products & Investment Solutions (MPIS) remains robust. In FY24, MPIS contributed 86% of the total new flows.
- Nuvama Private: Revenue and net flows from Annual Recurring Revenue (ARR) earning assets continues to grow at a faster rate. ARR revenues were 57% of total revenues.
-
-
Asset Management
-
- Revenues (ex-carry): US $ 1 million in Q4 FY24, grew by 27%YoY and US $ 6 million in FY24, grew by 34%YoY.
- AUM: US $ 0.8 billion as at end of Q4 FY24, grew by 25% YoY, of which Public Markets AUM stood at US
$ 0 .3 billion, grew by 155% YoY.
-
-
Capital Markets
-
- Revenues: US $ 30 million in Q4 FY24, grew by 71%YoY and US $97 million in FY24, grew by 64%YoY.
- PBT: US $ 16 million in Q4 FY24, grew by 123%YoY and US $ 45 million in FY24, grew by 180%YoY.
- Client Assets for Asset Services: US
$10.9 billion as at end of Q4 FY24, grew by 109%YoY. - Robust primary & secondary capital markets and increased market share led to the growth in business revenue and profitability.
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About
Nuvama has built a strong foundation of trust and reputation in the Indian market over 25 years. As one of
For more details, please visit: https://www.nuvama.com
Disclaimer: The US $ values above have been converted using foreign exchange rate of 1 US $ equal to INR 83.3739 for convenience. Due to rounding off, numbers presented in this Earnings Release may not add up to the totals provided and/or correlate with the growth and contribution percentages provided. Data provided in the INR version of the Earnings Release shall prevail in case of disparity.
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