360 ONE WAM profit falls as costs and interest outpace revenue
Revenue declined 6.71% sequentially, while other income contributed 30.11% of pre-tax profit.
Filed 15 Oct 2026, 16:18 IST · after market close · 360 ONE WAM Ltd (360ONE)
Key takeaways
- Consolidated net profit fell 4.87% year on year as expenses grew 16.38% against 2.59% revenue growth.
- Operating margin narrowed 4.83 percentage points year on year to 59.2%, while interest expense rose 42.32%.
- Wealth Management ARR AUM rose 24.3% year on year to Rs 2,52,627 cr, despite the quarter's margin pressure.
Price around the results
Profit declined despite modest year-on-year revenue growth
360 ONE WAM reported consolidated revenue growth of 2.59% year on year, but net profit fell 4.87%; sequentially, revenue declined 6.71% and net profit fell 9.20%. Operating profit dropped 5.16% year on year and 12.36% sequentially, showing that the weaker quarter was driven by operating performance rather than revenue alone.
Higher costs and interest squeezed the quarter
Year-on-year expenses grew 16.38% against 2.59% revenue growth, narrowing operating margin by 4.83 percentage points; sequentially, revenue fell 6.71% while expenses rose 2.92%, cutting margin by 3.81 percentage points. Interest expense increased 42.32% year on year and 2.08% sequentially. Other income contributed 30.11% of pre-tax profit, making reported profit less dependent on operating earnings, while the year-on-year tax-rate decline of 0.53 percentage points provided only limited support.
AUM growth continued while margin remained below the recent peak
Management said Wealth Management ARR AUM rose 24.3% year on year to Rs 2,52,627 cr, supported by net flows across segments, while Asset Management ARR AUM increased 9.4% to Rs 1,00,754 cr. The company said the quarter was affected by prevailing market conditions that it views as transitory, and said it remains positioned for sustained long-term growth. The 59.2% operating margin matched the median for the seven Financial Services peers that had reported.
Margin recovered from the prior quarter but stayed below last year
Operating margin rose from 59.46% in Q4FY26 to 63.01% in Q1FY27 before falling to 59.2% in Q2FY27; it was 64.03% in Q2FY26. The current quarter therefore reversed the sequential recovery, but does not mark a continuous decline across every recent quarter. The results were filed after market close, so there was no market reaction yet; across the last eight result reactions, the stock fell six times and rose twice, with a median absolute move of 4.22%.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹1,144 cr | ₹1,226 cr | -6.71% | +2.59% |
| Other income | ₹118 cr | ₹47 cr | +150.10% | — |
| Expenses | ₹467 cr | ₹454 cr | +2.92% | +16.38% |
| Operating profit | ₹677 cr | ₹773 cr | -12.36% | -5.16% |
| Operating margin (%) | 59.20% | 63.01% | — | — |
| Interest | ₹361 cr | ₹354 cr | +2.08% | +42.32% |
| Depreciation | ₹43 cr | ₹42 cr | +1.61% | +9.19% |
| Profit before tax | ₹391 cr | ₹424 cr | -7.77% | -5.52% |
| Tax | ₹90 cr | ₹93 cr | -2.69% | -7.61% |
| Net profit | ₹300 cr | ₹331 cr | -9.20% | -4.87% |
| EPS (₹) | ₹7.37 | ₹8.13 | -9.35% | -5.51% |
Operating margin of 59.20% compares with a Financial Services sector median of 59.20% across 7 peers that have reported Q2FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Wealth Management ARR AUM rose 24.3% year on year to Rs 2,52,627 crore, supported by net flows across segments.
- Asset Management ARR AUM increased 9.4% year on year to Rs 1,00,754 crore, driven by growth across three segments.
Guidance & outlook
- The company said it remains well positioned for sustained, long-term growth.
Competition
- The company described itself as one of India’s largest wealth and alternatives asset managers.
Problems & risks
- The company reported that its performance occurred amid heightened macroeconomic volatility.
- Q2 results included an impact from prevailing market conditions, which the company views as transitory.
What to watch
- Whether operating margin holds above 59.2% after the sequential decline of 3.81 percentage points.
- Whether interest expense moderates after rising 42.32% year on year.
- Whether Wealth Management ARR AUM growth remains above 24.3% year on year.