Nuvama Wealth Management Limited has informed the Exchange about Earnings Release & Investor Presentation on the Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2025
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Nuvama reported Q2 FY26 consolidated revenue of ₹772 Cr, up 4% YoY, and H1 FY26 revenue of ₹1,542 Cr, up 10% YoY. Operating profit after tax for Q2 stood at ₹254 Cr (down 1% YoY) while H1 PAT was ₹518 Cr (up 8% YoY). Wealth Management remained the strongest segment with Q2 revenues of ₹438 Cr (up 26% YoY) and PBT of ₹151 Cr (up 27% YoY), while Capital Markets saw revenues fall 28% YoY due to weak secondary market volumes. The company declared an interim dividend of ₹70 per share and announced a stock sub-division from ₹10 to ₹2 face value. It also secured in-principle approval to set up Nuvama Mutual Fund and highlighted that ARR earning assets crossed the ₹50,000 Cr milestone.
Positive for shareholders due to the interim dividend, stock sub-division improving liquidity, and the mutual fund approval unlocking a new growth engine. However, margin pressure is visible with costs growing 12% YoY against only 4% revenue growth in Q2, pushing cost-to-income higher and RoE down to 28.9% from 31.5%.