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Nuvama Wealth net profit doubles to ₹178 crore in Q3

Livemint

Livemint · 1y ago

Nuvama Wealth net profit doubles to ₹178 crore in Q3

Nuvama Wealth Management, formerly known as Edelweiss Securities, reported a nearly doubled net profit of INR 178 crore ($23.8 million) for the December quarter, compared to INR 90 crore ($12 million) in the same period last year. The company's revenue rose 38% to INR 558 crore ($74.6 million), while expenses increased by 21% to INR 328 crore ($43.9 million). Nuvama also received approval from SEBI for its INR 3,000 crore ($401 million) realty fund joint venture with Cushman and Wakefield.

Related News

Nuvama Group appoints onboards new group CFO

VCCircle

VCCircle · 1y ago

Nuvama Group appoints onboards new group CFO

Integrated wealth management platform Nuvama Group has appointed Bharat Kalsi as group chief financial officer and head of strategy. Kalsi brings over 24 years of experience in finance, tax, investments, M&A, and regulatory affairs, having previously worked with companies such as HSBC, HCL Tech, and Tata. Nuvama Group oversees approximately INR3.5tn ($48.2bn) worth of client assets, providing wealth management solutions to individuals, institutions, and family offices. In FY24, the company reported a net profit of INR597 crore, representing a 62% YoY growth.

OYO's valuation at $4.6 bn after Nuvama buys ₹100 cr stake: Report

Inshorts · 1y ago

OYO's valuation at $4.6 bn after Nuvama buys ₹100 cr stake: Report

OYO's valuation has reached $4.6 billion after Nuvama Wealth and Investment Ltd purchased its shares worth ₹100 crore, ET reported. Nuvama reportedly bought shares at ₹53 per share in a secondary transaction involving InCred Wealth and H World Group Ltd. The IPO-bound firm announced last month that CEO Ritesh Agarwal will buy shares worth ₹550 crore.

Nuvama Wealth acquires shares worth Rs 100 Cr in OYO via secondary market: Report

YourStory

YourStory · 1y ago

Nuvama Wealth acquires shares worth Rs 100 Cr in OYO via secondary market: Report

Nuvama Wealth and Investment Limited has acquired shares worth Rs 100 crore in OYO's parent firm Oravel Stays through a secondary market transaction. The share sale at Rs 53 apiece values OYO at $4.6 billion. Discussions with potential buyers for stake purchases at prices ranging between Rs 53-60 per share are at an advanced stage, potentially valuing OYO at up to $5.2 billion. OYO reported a net profit of around Rs 132 crore in Q1 FY 2025, a turnaround from the previous fiscal year's loss. Moody's Ratings has upgraded Oravel Stays' corporate family rating to B2 from B3.

PAG-controlled Nuvama to challenge tribunal order in Supreme Court

VCCircle

VCCircle · 2y ago

PAG-controlled Nuvama to challenge tribunal order in Supreme Court

Indian wealth manager Nuvama Wealth Management, majority-owned by PAG, plans to contest an order by the Securities Appellate Tribunal (SAT) in the Supreme Court. The SAT dismissed an appeal by Nuvama Clearing Services, a subsidiary of Nuvama Wealth Management, relating to the mishandling of client securities by Anugrah Stock and Broking. Nuvama argues that penalizing a professional clearing member for a broker's misconduct is unjust and potentially detrimental to industry norms. The company maintains that the SAT ruling will have no material impact on its operations or long-term goals.

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Economic Times

Economic Times · 8m ago

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Elevation Capital sold 21.5 lakh shares in Ixigo's parent company, Le Travenues Technology, for Rs 38.27 crore at Rs 178 each, retaining a 13% stake. The firm had previously invested Rs 63.1 crore in Ixigo and sold shares worth Rs 100 crore before IPO, and about Rs 181 crore during the IPO's OFS. Ixigo's net profit grew 128% YoY, with operating revenue rising 72% to Rs 284 crore.

Tata Group doubles revenue, triples profit and market cap in five years with Rs 5.5 lakh crore ‘future fit’ push: N Chandrasekaran

Economic Times

Economic Times · 6m ago

Tata Group doubles revenue, triples profit and market cap in five years with Rs 5.5 lakh crore ‘future fit’ push: N Chandrasekaran

Tata Group, under Chairman N Chandrasekaran, nearly doubled its revenue and more than tripled its net profit and market capitalization over five years by investing ₹5.5 lakh crore to become "future fit". The group's FY25 revenue reached ₹15.34 lakh crore with a net profit of ₹1.13 lakh crore and a market cap of ₹37.84 lakh crore. TCS remained the major profit contributor, and Tata Sons’ revenue rose by 24% despite a dip in net profit.

Yatra profit spikes 10X in Q3 FY25; revenue doubles

Entrackr

Entrackr · 12m ago

Yatra profit spikes 10X in Q3 FY25; revenue doubles

Yatra’s revenue from operations increased to Rs 235 crore in Q3 FY25 from Rs 110 crore in Q3 FY24, its consolidated unaudited financials sourced from National Stock Exchange (NSE) shows. The Gurugram-based firm managed to double its year-on-year revenue during the third quarter of FY25, compared to the same quarter of the previous fiscal (Q3 FY24). Income from hotels and packages was the largest revenue source followed by air ticketing and other allied services. It also made Rs 6 crore from financial sources tallying the firm’s overall income to Rs 241 crore in Q3 FY25 from Rs 119.2 crore in Q3 FY24. For more context, Yatra has reported a revenue of Rs 572 crore with a positive bottom line of Rs 21.3 crore in the first nine months of the ongoing fiscal year (FY25). The travel aggregator firm spent 56% of the overall expenditure on service costs which stood at Rs 131 crore, followed by employee benefits which were recorded at Rs 39 crore. Its spending on marketing, legal, information technology, and other costs pushed its overall expense to Rs 231 crore in Q3 FY25. The twofold year-on-year scale helped Yatra to register a 10X surge in its profits, bringing it to Rs 10 crore in Q3 FY25 against Rs 1 crore in Q3 FY24. On a unit level, the firm spent Re 0.98 to earn a rupee in Q3 FY25. Yatra is currently trading at Rs 93.21 with a 0.52% increase in its share price. Its total market capitalization stood at Rs 1,462 crore.

Beauty retailer Nykaa's revenue rises 27% to Rs 2,873 crore in Q3 FY26, net profit jumps 156%

IndianStartupNews

IndianStartupNews · 3d ago

Beauty retailer Nykaa's revenue rises 27% to Rs 2,873 crore in Q3 FY26, net profit jumps 156%

Beauty retailer Nykaa reported a 27% increase in revenue to Rs 2,873 crore for Q3 FY26, with net profit increasing 156% to Rs 68 crore compared to the previous year. The company saw a 28% rise in gross merchandise value to Rs 5,795 crore, driven mainly by the beauty segment, which contributed 91% of the quarterly revenue. EBITDA rose 63% to Rs 230 crore, while net profit reached Rs 78 crore after adjustments.

Go Digit posts Rs 2,160 Cr revenue in Q3 FY26; PAT up 18%

Entrackr

Entrackr · 18d ago

Go Digit posts Rs 2,160 Cr revenue in Q3 FY26; PAT up 18%

Go Digit General Insurance Limited reported steady growth in the third quarter of FY26, with operating revenue (net premium) rising 4% to Rs 2,160 crore from Rs 2,084 crore in Q3 FY25. Its profit also grew 18% during the quarter. Net premiums written saw a dip of 4.5% this quarter to Rs 2,142 crore in Q3 FY26 compared to Rs 2,242 crore in the same quarter last year, according to its quarterly results reported on the NSE. The firm’s income from investments grew 17% to Rs 337 crore in Q3 FY26, compared to Rs 288 crore in the third quarter of FY25, steered by a stronger investment portfolio performance. In the end, its total income for Q3 FY26 stood at Rs 2,498 crore, against Rs 2,372 crore in the corresponding quarter of the previous year. Go Digit reported flat expenses in Q3 FY26, commissions and brokerage costs amounted to Rs 603 crore in Q3 FY26, as compared to Rs 543 crore in Q3 FY25. Employee benefits also saw a slight increase, with expenses totaling Rs 95 crore in Q3 FY26. These increases contributed to the overall 3% rise in the firm's expenses during the quarter to Rs 2,386 crore. In terms of claims, the company paid out Rs 1,311 crore in claims during Q3 FY26 against Rs 949 crore in Q3 FY25. There was also a change in outstanding claims, decreasing to Rs 256 crore in Q3 FY26 compared to Rs 571 crore in Q3 FY25. The company’s PAT (Profit after Tax) increased by 18% to Rs 140 crore in Q3 FY26 from Rs 118.5 crore in Q3 FY26. For the nine months period ending December 2026, the company’s profit stood at Rs 64 crore. At the end of the day, Go Digit’s share price was trading at Rs 325 per share, giving the company a total market capitalization of Rs 30,039 crore ($3.2 billion).

“Will grow Blinkit’s market share aggressively”: Eternal CFO Akshant Goyal

Economic Times

Economic Times · 9m ago

“Will grow Blinkit’s market share aggressively”: Eternal CFO Akshant Goyal

Quick commerce platform Blinkit, under parent company Eternal, faced profitability challenges in Q4FY24 despite expanding its dark store network. The company reported Ebitda losses of Rs 178 crore but saw a 21% sequential growth in gross order value. Eternal's operating revenue rose by 64% to Rs 5,833 crore, but net profit dropped by 78%, largely due to Blinkit's growth investments. CFO Akshant Goyal emphasized prioritizing market share expansion, predicting sustained competition in the segment.

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