Nuvama Wealth Management Ltd Share Price – NSE  /  BSE

Stock/ Commodity Brokers, Small Cap

Revenue from operations jumped 46.58% YoY to Rs 949.43 core in Q1 FY25.

Profit before tax (PBT) increased 94.5% to Rs 296.82 crore in Q1 FY25 as compared with Rs 152.61 crore in Q1 FY24.

Revenue from wealth management business stood at Rs 516.03 crore in Q1 FY25, up 27.3% as compared with Rs 405.38 crore in Q1 FY24.

Client assets was jumped 35% YoY to Rs 2,74,124 crore as at end of Q1 FY25.

Revenue from assets management business jumped 23% to Rs YoY to Rs 15 crore, AUM stood at Rs 7,692 crore in Q1 FY25, grew by 30% YoY, led by public markets.

Ashish Kehair, MD & CEO of Nuvama Group said, “Macroeconomic fundamentals for India remain robust. These favourable conditions, probusiness policies, strong markets and rising income levels are driving wealth creation in the hands of households. Changing customer investment preferences to capital markets products over traditional investment avenues augurs well for wealth management and asset management sectors. As these preferences change, product suite expands and regulations evolve the sector will consolidate and see unorganized movement to organized, as seen in matured markets.

In Wealth Management our investments continue; we added 60+ RMs, launched an industry leading technology tool for portfolio-solutions and garnered healthy new flows for annuity products. We also received final approval from DIFC authorities in July’24 for our offshore private wealth proposition in Dubai. In Asset Management our AUM grew by 30% YoY and our fresh sales were ~ Rs 600 crore in Q1. This run rate is expected to grow as we have launched multiple new schemes in the last 3-6 months across all our three strategies.

Meanwhile, the company’s board has declared a dividend of Rs 10 per share for financial year 2024-2025. The record date is fixed as on Wednesday, 7 August 2024. The said interim dividend will be paid/dispatched on or before August 24, 2024.

Nuvama Wealth and Investment (formerly Edelweiss Broking) is a leading technology-driven securities company in India, offering a wide range of financial services. With a strong presence in the stockbroking industry, Nuvama provides broking services across equity, derivatives, and debt segments through digital platforms.

The scrip rallied 2.86% to ends at Rs 5706.35 on Friday, 26 July 2024.

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Nuvama Wealth Management has fixed 07 August 2024 as record date for payment of interim dividend of Rs 81.50 per share for FY 2025. The dividend will be dispatched on or before 24 August 2024.

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Nuvama Wealth Management announced that the Board of Directors of the Company at its meeting held on 26 July 2024, inter alia, have recommended the interim dividend of Rs 81.5 per equity Share (i.e. 815%) , subject to the approval of the shareholders.

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Net profit of Nuvama Wealth Management rose 79.59% to Rs 221.02 crore in the quarter ended June 2024 as against Rs 123.07 crore during the previous quarter ended June 2023. Sales rose 46.58% to Rs 949.43 crore in the quarter ended June 2024 as against Rs 647.71 crore during the previous quarter ended June 2023.

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