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- Financial Update
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Nuvama Wealth Management has announced a board meeting on approving the financial results for the quarter and half-year. The company posted a strong standalone net profit of Rs. 597.71 crore, jumping from Rs. 98.09 crore year-on-year, driven by a 44% net profit margin and growth in fee, commission, and interest income. Net worth rose to Rs. 1,935 crore with improved debt levels and an interest coverage ratio of 7.01x. An interim dividend of Rs. 69 per share was declared. Subsidiaries added Rs. 210 crore in dividends post-year-end.