360 ONE WAM reports 7% rise in Q2 profit

360 ONE WAM Ltd, formerly kwn as IIFL Wealth Manment, has reported a 7 per cent increase in its profit after tax (PAT) for September quarter of current financial year, reaching Rs 185 crore. In comparison, company posted a PAT of Rs 173 crore in same period last year. company's total revenues also saw a 9 per cent growth, reaching Rs 441 crore in quarter under review, up from Rs 405 crore in July-September quarter of previous fiscal year.

360 ONE WAM aims to double its market share, which includes both Ultra High Net-worth Individual (UHNI) and High Net-worth Individual (HNI) segments, to approximately 4-5 per cent. company is introducing new client segments catering to Rs 25 crore market and expanding its geographical footprint in India and abroad to achieve this goal over next 5 years.

Karan Bhagat, Managing Director and Chief Executive Officer of 360 ONE WAM, stated, "All our growth initiatives are designed to achieve this objective." company has also declared a third interim dividend of Rs 4 per share for current financial year (2023-24).

(With PTI inputs)