360 ONE WAM Q1 PAT climbs 13% to Rs 181 crore

360 ONE WAM Ltd on Friday reported a 13.4 per cent growth in profit after tax (PAT) to Rs 181 crore in three months ended June 2023. In comparison, the company posted a PAT of Rs 160 crore in the year-ago period, 360 ONE WAM, formerly known as IIFL Wealth Management, said in a statement.

The company's total revenues increased 17.6 per cent to Rs 434 crore in the quarter under review from Rs 369 crore in the April-June quarter of the preceding fiscal 2022-23.

"We strongly believe India's long-term inclusive growth trends will continue to fuel overall wealth creation, and particularly for the HNI and UHNI segments. Increasing financialisation and client sophistication will drive a disproportionate rise in this segment," Karan Bhagat, founder, MD and CEO, 360 ONE, said.

In addition, the company's board approved a second interim dividend for the financial year 2023-24 of Rs 4 per equity share. Besides, the company has fixed July 28 as a record date for this purpose.