 "Nuvama, Nuvama group")
Nuvama Wealth Management on Thursday reported a 41 per cent growth in net profit to Rs 255 crore for the fourth quarter ended March 2025.
The wealth management firm earned a profit after tax of Rs 181 crore in the March quarter of 2023-24.
Its total income rose to Rs 1,125 crore during the March quarter from Rs 929 crore in the corresponding quarter of FY24.
For the full 2024-25 fiscal, Nuvama Wealth reported a 58 per cent growth in net profit to Rs 985 crore. In FY24, it had a profit of Rs 625 crore.
Nuvama Group MD & CEO Ashish Kehair said in the Wealth Management business, the company saw strong momentum in net flows.
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"We continued to invest substantially for growth, we added sales capacity and expanded our geographical reach, including offshore. We further strengthened our digital infrastructure, including integration of AI tools to serve our clients better," Kehair said.
The company's board has announced an interim dividend of Rs 69 per equity share of the face value of Rs 10 each for the financial year 2025-26.
Shares of Nuvama Wealth Management closed at Rs 6,940.50, up 0.25 per cent over the previous close on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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