Nuvama Wealth Management Q2 FY27 Results: Consolidated Net Profit ₹306 Crore on Total Income of ₹1,382 Crore

Nuvama Wealth Management reported consolidated total income of ₹1,381.96 crore and net profit of ₹305.64 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹201.78 crore and standalone net profit ₹19.71 crore.

Key highlights

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit grew a little more slowly than income. Total income rose 21.4% year on year to ₹1,381.96 crore and net profit rose 20.3% to ₹305.64 crore, while profit before tax rose 21.0% to ₹410.52 crore. Tax expense rose faster, by 23.0% to ₹104.88 crore, which takes the tax charge to 25.5% of profit before tax, against 25.1% in the year-ago quarter.

Finance costs rose 24.7% year on year to ₹294.97 crore, faster than total income, and equal 21.3% of total income this quarter against 20.8% a year earlier.

Other income more than doubled to ₹7.08 crore from ₹3.22 crore, but it is only 0.5% of total income. Net profit of ₹305.64 crore is before minority interests; the share attributable to owners of the company is ₹305.79 crore.

The earnings release gives a different measure for the quarter. It says operating profit after tax was ₹319 crore, up 26% year on year, excluding a one-time charge of ₹16 crore for the pre-closure of a Venture Debt Fund in the Asset Management business. Reported profit after tax was ₹304 crore, up 19%. The release does not give the reason for the charge.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone profit fell while income rose. Total income was up 5.1% year on year at ₹201.78 crore, but net profit fell 57.5% to ₹19.71 crore from ₹46.35 crore, and profit before tax fell 56.4% to ₹27.18 crore. Tax expense fell 53.2% to ₹7.47 crore. Finance costs rose 42.9% to ₹19.84 crore, which is 9.8% of total income.

Against the June quarter, standalone total income fell 53.2%. The June quarter's ₹430.87 crore of total income includes ₹250.17 crore of holding company activities in the segment table, and the quarter ended 30 Sep 2026 shows no such income.

Consolidated net profit of ₹305.64 crore is ₹285.93 crore higher than standalone net profit of ₹19.71 crore, so the gap between the two sits in the subsidiaries and other entities the consolidated statement includes. The standalone and consolidated figures are both reported for the same quarter.

Inference

The statements show ₹255.05 crore of dividends paid on equity shares in the half year ended 30 Sep 2026. The filing gives no dividend amount declared or recommended for the current year.

The Board approved investments of up to ₹400 crore in Nuvama Wealth Finance Limited and up to ₹300 crore in Nuvama Wealth and Investment Limited, both wholly owned material subsidiaries. The investments are to be paid in cash and tentatively completed within 6 months of intimation, and the objects are stated as general business purposes of the subsidiaries. Whether any tranche has been made by the filing date, and the reason for the investments beyond those objects, are not stated.

Other points in the filing: on 2 Sep 2026 the Supreme Court allowed an appeal by Nuvama Clearing Services, a subsidiary, so the matters stand concluded in its favour. On 7 Aug 2026 the company acquired the remaining 26% equity stake in Pickright Technologies Private Limited, which became a wholly owned subsidiary from that date. The statutory auditors issued an unmodified limited review report on both sets of results.