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Category :
Company
Headline :
Nuvama Wealth Manage Q1 net profit jumps 92.39% at Rs 46.54 cr
Date:
26/07/2024 20:40
The company reported standalone net profit of Rs 46.54 crore for the quarter ended June 30, 2024 as compared to Rs 24.19 crore in the same period last year, registering a year-on-year growth of 92.39 per cent.
Net revenue of the company rose substantially by 87.96 per cent at Rs 235.93 crore in April-June quarter of this fiscal as against Rs 125.52 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 59.95 per cent to Rs 138.29 crore from Rs 86.46 crore in year ago period.
Operating Profit surged by 149.97 per cent to Rs 97.64 crore as against Rs 39.06 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 33.00 per cent in June quarter.
Interest grew by 257.07 per cent y-o-y to Rs 29.28 crore, while Taxation increased by 518.79 per cent at Rs 18.05 crore (Jun'23 Rs -4.31 crore).
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