Nuvama Operating Profit Rises 26% to 319 Crore Rupees in Second Quarter

Key Facts

Nuvama Wealth Management raised operating profit after tax 26% year over year to 319 crore rupees in the second quarter of fiscal 2027, according to the company’s results as reported by ScoutQuest from a filing with the Bombay Stock Exchange. The company said the figure excludes a one-time charge of 16 crore rupees related to the early closure of a venture debt fund. Operating profit after tax for the first half of the fiscal year was 625 crore rupees. The results put operating profit on a higher annual trajectory than in the year-earlier period, when it was 254 crore rupees, down 1% year over year. By contrast, reported accounting profit shows slower growth than the operating profit figure adjusted to exclude the one-time charge.

Revenue from operations was 1,366.06 crore rupees in the second quarter, up 20.4% from the same period of the previous fiscal year, but down 0.6% from the first quarter. Revenue in the second quarter of fiscal 2026 was 772 crore rupees, according to the company’s results statement for that period. On a quarterly basis, revenue was below the 1,374.88 crore rupees recorded in the first quarter of fiscal 2027. The comparisons therefore show differing trends: clear year-over-year growth alongside a slight decline from the previous quarter. The reported figures did not include a breakdown of second-quarter revenue by company segment.

Net profit after tax was 303.48 crore rupees, compared with 253.98 crore rupees in the second quarter of fiscal 2026, a year-over-year increase of 19.5%. It was down 0.7% from 305.64 crore rupees in the first quarter of fiscal 2027. This measure differs from operating profit after tax of 319 crore rupees because the company presented operating profit excluding a one-time charge of 16 crore rupees. Profit before tax was 410.31 crore rupees, compared with 339.23 crore rupees a year earlier, up 21%. On a quarterly basis, profit before tax fell 0.1% from 410.52 crore rupees in the first quarter.

First-quarter fiscal 2027 results provide context for Nuvama’s segment performance ahead of its second-quarter figures. Wealth management revenue grew 19% year over year, asset services revenue rose 34%, and asset management revenue increased 24%, according to the company’s investor presentation. Client assets at the time were 5,36,139 crore rupees, up 16% year over year. The company also reported revenue of 909 crore rupees and operating profit after tax of 306 crore rupees in the first quarter. The cost-to-income ratio held at 55%, matching its level in the corresponding period of fiscal 2026.

Comparison with the previous fiscal year points to improved operating profit growth in the second quarter, after the figure fell 1% year over year to 254 crore rupees in the second quarter of fiscal 2026. For fiscal 2026 as a whole, operating profit was 1,049 crore rupees, up 6%, while it reached 269 crore rupees in the final quarter of that year, a 5% increase. The company said in its annual results that its wealth management business grew 23% in fiscal 2026. The latest results update visible on the investor relations page reviewed was for the first quarter of fiscal 2027. The available information does not specify a later date for the results announcement.