360 ONE WAM Q3FY26: Revenue up 22%, PAT ₹331 cr

Stock reaction: shares hit a six-month high

Shares of 360 ONE WAM rose sharply after the company reported its December-quarter results. The stock climbed nearly 8% to an over six-month high of ₹1,236.20 in early trade. It also touched an intraday high of ₹1,235.65 on the BSE, up 7.26%.

By 09:50 AM, shares were trading at ₹1,220, up 5.90% from the previous close of ₹1,151. The move followed a strong set of headline numbers, particularly the year-on-year jump in revenue and a solid rise in profit.

Q3FY26 headline numbers: profit and revenue rise

For Q3FY26, 360 ONE WAM reported profit after tax (PAT) of ₹331 crore, up 20.3% year-on-year from ₹275 crore in Q3FY25. Total revenue rose 21.8% year-on-year to ₹826 crore from ₹678 crore.

Revenue from operations came in at ₹806 crore, up 33.2% year-on-year from ₹605 crore. Annual recurring revenue (ARR) revenue increased 45.4% year-on-year to ₹619 crore from ₹426 crore, indicating stronger momentum in the more predictable part of the business.

Transaction and broking revenues were reported at ₹186 crore, up 4.2%. The company also disclosed that incremental carry revenue was about 6 basis points in the quarter.

Cost trend and operating efficiency

Total costs were ₹399 crore and were flat quarter-on-quarter. The cost-to-income ratio stood at 48.3%, improving from 49.2% in the previous quarter.

Operating profit before tax (Operating PBT) increased 42.5% year-on-year to ₹407 crore. On a quarter-on-quarter basis, Operating PBT was up 12.2% from ₹363 crore.

AUM expands to ₹7,11,398 crore

As of Q3FY26, total assets under management (AUM) stood at ₹7,11,398 crore. The AUM mix included ₹3,17,906 crore in ARR AUM and ₹3,93,492 crore in transactional or brokerage AUM.

The company’s ARR AUM increased to ₹3,17,906 crore, up 28% year-on-year. Within this, Wealth ARR AUM stood at ₹2,18,957 crore and Asset Management ARR AUM stood at ₹98,949 crore.

Separate market commentary also cited AUM of ₹7.11 trillion and a 6% on-year growth in AUM for the December quarter.

Segment details: wealth leads ARR AUM growth

Wealth management remained the larger contributor to ARR AUM. Wealth ARR AUM rose 34.5% year-on-year to ₹2,18,957 crore.

Within the wealth management business, the company highlighted growth across key propositions. The 360 ONE Plus proposition grew 41.7% year-on-year, distribution business grew 30.3%, and the lending business grew 32.0%.

Asset management: alternatives-led growth pockets

Asset Management ARR AUM increased 16.1% year-on-year to ₹98,949 crore. The company also disclosed growth across strategies: Private Equity rose 16.0%, Real Assets rose 72.1%, and customised multi-asset strategies rose 59.8%.

These growth rates were reported as part of the company’s segment commentary for the quarter.

Retention improves in Q3FY26

The company reported an improvement in combined ARR retention to 81 basis points compared with 70 basis points in the previous quarter. Within that, wealth management retention was 79 basis points and asset management retention was 85 basis points.

Retention is closely watched in wealth and asset management because it can influence the stability of recurring revenues.

Outlook: growth targets and cost-to-income goal

Management outlined targets over the next three years, including 22% to 24% AUM growth, 16% to 18% revenue growth, and 22% to 24% profit growth. It also stated an aim to improve the cost-to-income ratio to 45% to 46% next year.

Alongside the financial targets, the company flagged initiatives such as scaling up its HNI business, deepening its geographical presence, and leveraging its UBS partnership for global access.

UBS collaboration, acquisitions, and platform expansion

Brokerage commentary referenced the UBS collaboration and the acquisition of B&K as developments that could broaden client access and strengthen the transactional platform. The same commentary also pointed to operating leverage and cost synergies from integrations as businesses scale.

The company has also highlighted its expanding GIFT City presence as part of its positioning across wealth management, asset management, and capital markets.

Disclosures: earnings call recording and filings

Following the earnings call held on January 15, 2026, 360 ONE WAM made the audio and video recordings available on its website. The company also submitted its investor presentation and unaudited results for the quarter and nine months ended December 31, 2025 to stock exchanges on January 15, 2026 under Regulation 30.

Key numbers at a glance

What the results mean for investors

The quarter reinforced the company’s focus on growing ARR-linked assets and revenue, visible in the 45.4% rise in ARR revenue and 28% rise in ARR AUM. Investors also tracked operating efficiency, with the cost-to-income ratio improving to 48.3% and total costs staying flat quarter-on-quarter.

At the same time, the AUM mix remains split between ARR AUM and transactional or brokerage AUM, which can influence the stability of revenue across quarters. Management’s stated targets for AUM, revenue, profit growth, and cost-to-income provide a framework investors may use to track execution over the next few years.

Conclusion

360 ONE WAM’s Q3FY26 results showed year-on-year growth in profit and revenue, supported by an increase in ARR AUM and ARR revenue. The company has also outlined medium-term growth targets and a plan to improve its cost-to-income ratio next year. Investors will watch subsequent quarters for sustained ARR-led growth, integration benefits tied to recent initiatives, and progress on the stated efficiency goal.