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360 ONE WAM Q2 FY27 results: net profit down 4.9% to ₹300.11 crore, revenue up 2.6%
360 ONE WAM LIMITED reported Q2 FY27 consolidated revenue of ₹1,144 crore, up 2.6% from the year-ago quarter, while EBITDA fell 5.2% and net profit declined 4.9% to ₹300.11 crore. Basic EPS was ₹7.37, and the board approved a second interim dividend of ₹7.5 per share for FY 2026-27.
Key points
- Q2 FY27 consolidated revenue was ₹1,144 crore, up 2.6% year on year but down 6.7% from Q1 FY27.
- EBITDA was ₹677.10 crore, down 5.2% year on year, with the EBITDA margin at 59.2% against 64.0% in Q2 FY26.
- Net profit was ₹300.11 crore, down 4.9% year on year and 9.2% from the previous quarter, while basic EPS was ₹7.37.
- Total expenses rose 25.5% to ₹870.86 crore, with finance costs up 42.3% and employee cost up 25.2%.
- The board approved a second interim dividend of ₹7.5 per equity share of face value of ₹1 each, with the record date on 23 October 2026.
How did 360 ONE WAM perform in Q2 FY27?
360 ONE WAM reported consolidated revenue of ₹1,144 crore for Q2 FY27, up 2.6% from ₹1,115 crore in Q2 FY26 and down 6.7% from ₹1,226 crore in Q1 FY27. Total income was ₹1,261.45 crore, up 13.9% year on year and down 0.9% from the previous quarter.
EBITDA was ₹677.10 crore, down 5.2% from ₹713.92 crore a year earlier and down 12.4% from ₹772.58 crore in Q1 FY27. The EBITDA margin was 59.2%, against 64.0% in Q2 FY26 and 63.0% in Q1 FY27, a fall of 4.8 percentage points and 3.8 percentage points respectively.
Profit before tax was ₹390.59 crore, down 5.5% year on year, and the company reported a net profit of ₹300.11 crore, down 4.9% from ₹315.48 crore a year earlier and down 9.2% from ₹330.53 crore in Q1 FY27. Basic EPS was ₹7.37, against ₹7.8 in Q2 FY26 and ₹8.13 in Q1 FY27. On a standalone basis, revenue was ₹40.61 crore and profit before tax ₹34.26 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,144 | 1,226 | 1,115 | +2.6% | −6.7% |
| Other income | 117.62 | 47.03 | −7.43 | +150.1% | |
| Total expenses | 870.86 | 849.61 | 694.11 | +25.5% | +2.5% |
| EBITDA | 677.10 | 772.58 | 713.92 | −5.2% | −12.4% |
| EBITDA margin | 59.2% | 63.0% | 64.0% | −4.8 pp | −3.8 pp |
| Profit before tax | 390.59 | 423.51 | 413.41 | −5.5% | −7.8% |
| Tax | 90.48 | 92.98 | 97.93 | −7.6% | −2.7% |
| Net profit | 300.11 | 330.53 | 315.48 | −4.9% | −9.2% |
| EPS (₹) | 7.37 | 8.13 | 7.80 | −5.5% | −9.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in 360 ONE WAM's costs and profit?
Total expenses rose 25.5% year on year to ₹870.86 crore, from ₹694.11 crore in Q2 FY26, and were 2.5% higher than the ₹849.61 crore reported in Q1 FY27. Employee cost was ₹341.09 crore, up 25.2%, and finance costs were ₹361.34 crore, up 42.3%, against depreciation of ₹42.79 crore, up 9.2%, and other expenses of ₹103.39 crore, up 0.9%. There was no exceptional item.
Other income moved from a negative ₹7.43 crore in Q2 FY26 to ₹117.62 crore in Q2 FY27, a difference of ₹125.05 crore, and was up ₹70.59 crore from ₹47.03 crore in the previous quarter. Total income was up ₹153.93 crore year on year, from ₹1,107.52 crore to ₹1,261.45 crore.
Tax was ₹90.48 crore, down 7.6% from ₹97.93 crore a year earlier and down 2.7% from ₹92.98 crore in Q1 FY27. Despite the higher total income, profit before tax fell ₹22.82 crore year on year to ₹390.59 crore, and net profit fell ₹15.37 crore to ₹300.11 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 341.09 | 272.47 | +68.62 | +25.2% |
| Finance costs | 361.34 | 253.89 | +107.45 | +42.3% |
| Depreciation | 42.79 | 39.19 | +3.60 | +9.2% |
| Other expenses | 103.39 | 102.48 | +0.91 | +0.9% |
| Total expenses | 870.86 | 694.11 | +176.75 | +25.5% |
| Other income | 117.62 | −7.43 | +125.05 | |
| Tax | 90.48 | 97.93 | −7.45 | −7.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, revenue was ₹2,367.13 crore, up 16.8% from ₹2,026.42 crore in H1 FY26, and total income was ₹2,534.57 crore, up 21.4% from ₹2,087.56 crore. Profit before tax rose 3.4% to ₹814.1 crore from ₹787.21 crore.
Net profit for the first half was ₹630.64 crore, up 5.1% from ₹600.15 crore in H1 FY26, and EPS was ₹15.5 against ₹14.96. The results cover the quarter and half year ended 30 September 2026, on a consolidated basis, as approved by the board on 15 October 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,367 | 2,026 | +16.8% |
| Profit before tax | 814.10 | 787.21 | +3.4% |
| Net profit | 630.64 | 600.15 | +5.1% |
| EPS (₹) | 15.50 | 14.96 | +3.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹29,142.24 crore as on 30 September 2026, against ₹27,201.35 crore as on 31 March 2026. Total equity was ₹10,360.59 crore, against ₹9,835.55 crore at the previous balance sheet date, while cash was ₹336.58 crore against ₹569.24 crore. No borrowings figure was given in the reported balance sheet data.
In the first half of FY27, operating cash flow was negative ₹724.54 crore, compared with negative ₹1,575.29 crore in H1 FY26. Investing cash flow was negative ₹308.07 crore against negative ₹1,319.7 crore, and financing cash flow was ₹798.4 crore against ₹2,721.42 crore. Capital expenditure was ₹36.63 crore in H1 FY27 and ₹17.09 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 29,142 | 27,201 |
| Total equity | 10,361 | 9,836 |
| Cash and equivalents | 336.58 | 569.24 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −724.54 | −1,575 |
| Cash from investing | −308.07 | −1,320 |
| Cash from financing | 798.40 | 2,721 |
| Capital expenditure | 36.63 | 17.09 |
Source: Company's results filing (XBRL).
How has 360 ONE WAM done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters, and the series shows revenue moving from ₹759.83 crore in Q3 FY25 to a peak of ₹1,226.09 crore in Q1 FY27 before easing to ₹1,143.83 crore in Q2 FY27. Net profit followed a similar path, from ₹276.47 crore in Q3 FY25 to a peak of ₹330.53 crore in Q1 FY27 and then ₹300.11 crore in Q2 FY27.
The EBITDA margin was at its lowest in the series at 59.2% in Q2 FY27, against a peak of 64.0% in Q2 FY26 and 63.0% in Q1 FY27. The Q2 FY27 margin was higher than the 55.8% recorded in Q3 FY25, when revenue was ₹759.83 crore and net profit was ₹276.47 crore.
Which businesses drove the quarter?
Wealth Management reported revenue of ₹943.25 crore in Q2 FY27, up 0.5% from ₹938.92 crore in Q2 FY26. Segment EBIT was ₹206.0 crore, against ₹344.41 crore a year earlier, with an EBIT margin of 21.8%.
Asset Management reported revenue of ₹318.2 crore, up 89.3% from ₹168.08 crore in the year-ago quarter. Segment EBIT was ₹184.59 crore, against ₹68.48 crore, with an EBIT margin of 58.0%. Unallocated recorded no revenue and no EBIT in the quarter, against ₹0.52 crore on both counts a year earlier.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Wealth Management | 943.25 | +0.5% | 206 | 21.8% |
| Asset Management | 318.20 | +89.3% | 184.59 | 58.0% |
| Unallocated | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board of directors, which met on 15 October 2026, approved the unaudited financial results for the quarter and half year ended 30 September 2026 on both a consolidated and a standalone basis. The company also filed a results update and an investor presentation on the same day.
The board approved a second interim dividend for FY 2026-27 of ₹7.5 per equity share of face value of ₹1 each, and fixed the record date as 23 October 2026. The dividend is to be paid or dispatched on or before 13 November 2026, subject to applicable taxes. The same-day filings also included statements of deviation or variation, if any, in the utilisation of proceeds of preferential issues of warrants.
What did the auditors point out?
S.R. Batliboi & Co. LLP reviewed the unaudited consolidated and standalone interim financial results and included an emphasis of matter. The auditors drew attention to note 10 of the unaudited consolidated financial results describing the income tax demand and assessment on the company and its subsidiaries, based on a search operation carried out by the Income Tax department, and the related uncertainties. Their conclusion was not modified in respect of this matter.
For the standalone results, the auditors drew attention to note 11 describing the income tax demand on the company based on a search operation carried out by the Income Tax department and the related uncertainties, and stated that their conclusion was not modified in respect of this matter. The review report was signed on 15 October 2026 with UDIN 26102102WDNEDA6993.
What did 360 ONE WAM's management say?
On the earnings call, management said total AUM was ₹9 lakh crore, up 31% year on year, with ARR AUM of ₹3,53,000 crore, up 19.7%, and ARR net flows of ₹12,482 crore in Q2 against ₹10,815 crore in Q1. Management said the cost-to-income ratio improved to 51.5%, with a path to 48% and then 46-47%, and guided improvement of 100-150 bps year on year for FY27.
Management set out new quantitative targets: tangible return on equity of 20% over 3-3.5 years, with a longer-term aspiration of up to 25% and no fresh equity raise planned, and UBS cross-flows of $600-650M for FY27 against $300-325M achieved so far, with retention broadly 40-50 bps. Management said client-to-client yield is expected at 40-50 bps.
Management identified near-term market volatility, FPI selling and global rate and geopolitical uncertainty as risks weighing on transaction-based revenue, along with competitive intensity from PE/VC-backed digital players. Management also noted negative other income of ₹44 crore from MTM on treasury investments, a one-time restructuring hit of about ₹9 crore in employee costs, and a fair-value drag of about ₹110-120 crore from NSE exposure this quarter.
Karan Bhagat, Founder, CEO and MD, said: "If we can double our profits over the next 3.5 years and, honestly, don't see any need to raise capital, we can ensure that we hit the 20% number." He also said: "I feel more comfortable with the 20% number as opposed to the 25% number." Sanjay Wadhwa, CFO, said: "Long-term tailwinds clearly outweigh the near-term concerns."
How did 360 ONE WAM shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock was up 1.4% after 5 minutes, then down 0.5% after 15 minutes and down 2.1% after 30 minutes. On the reaction day, it closed 0.2% above the previous close of ₹1,073.0.
By the next day's close, the stock was down 1.7% from its pre-results close, and by the fifth session it was down 9.1%. Over the same closes, the median move of the industry's other stocks was 0.6% on the reaction day, down 1.3% by the next day and down 7.4% by the fifth day, leaving the stock behind the sector median by 0.4 percentage points, 0.4 percentage points and 1.8 percentage points respectively. The Nifty Midcap 150 moved down 0.1% on the reaction day and down 4.3% by the fifth session.
Earlier results-day moves were mixed: down 1.5% on 16 July 2026, down 5.1% on 21 April 2026, up 3.0% on 15 January 2026, up 2.0% on 17 October 2025, down 0.9% on 17 July 2025, down 3.7% on 23 April 2025, down 5.1% on 27 January 2025 and down 6.8% on 21 October 2024.
| After the filing | Stock | Stockbroking & Allied median |
|---|---|---|
| 5 minutes | +1.4% | |
| 15 minutes | −0.5% | |
| 30 minutes | −2.1% | |
| Reaction day | +0.2% | +0.6% |
| Next day | −1.7% | −1.3% |
| 5 days | −9.1% | −7.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 16 July 2026 | −1.5% |
| 21 April 2026 | −5.1% |
| 15 January 2026 | +3.0% |
| 17 October 2025 | +2.0% |
| 17 July 2025 | −0.9% |
| 23 April 2025 | −3.7% |
| 27 January 2025 | −5.1% |
| 21 October 2024 | −6.8% |
Source: MarketPing price-reaction measurement.
How did other Stockbroking & Allied companies do?
Among 27 Stockbroking & Allied companies that have filed this quarter, the median revenue growth was 16.8%. Of the peers, 8 grew slower than 360 ONE WAM and 19 grew faster than the company. Of the 26 peers for which profit was compared, 16 reported a rise in profit.
| 360 ONE WAM revenue growth (YoY) | +2.6% |
|---|---|
| Median of 27 other Stockbroking & Allied companies | +16.8% |
| Companies with slower revenue growth than 360 ONE WAM | 8 of 27 |
| Companies with faster revenue growth than 360 ONE WAM | 19 of 27 |
| Companies whose net profit rose | 16 of 26 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was 360 ONE WAM's revenue in Q2 FY27?
Revenue from operations was ₹1,144 crore, up 2.6% from ₹1,115 crore in Q2 FY26 (consolidated).
Did 360 ONE WAM make a profit in Q2 FY27?
Yes. Net profit was ₹300.11 crore, against a net profit of ₹315.48 crore in Q2 FY26.
What was 360 ONE WAM's EPS in Q2 FY27?
Basic earnings per share were ₹7.37, against ₹7.80 in Q2 FY26.
How did 360 ONE WAM shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.2% from the previous close; the median Stockbroking & Allied stock moved +0.6%.
When did 360 ONE WAM announce its Q2 FY27 results?
On 15 October 2026, in a filing to the BSE.
Sources
- Analysts/Institutional Investor Meet/Con. Call Updates (NSE, 7 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For The Meeting Of The Board Of Directors Of 360 ONE WAM LIMITED Held On Thursday, October 15, 2026 (BSE, 15 October 2026) · PDF
- Board Meeting Outcome For The Meeting Of The Board Of Directors Of 360 ONE WAM LIMITED Held On Thursday, October 15, 2026 (BSE, 15 October 2026) · PDF
- The earnings call (21 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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