Prime Securities Q3FY26 Consolidated Revenue Crosses ₹100 Cr, Profit Declines to ₹26.35 Cr
Prime Securities' consolidated revenue crossed ₹100 crore for the first time in nine months FY26, reaching ₹10,787 lakhs. Profit after tax declined to ₹2,635 lakhs from ₹3,750 lakhs YoY. Prime Trigen Wealth's AUA surpassed ₹2,400 crore, with plans to break even in six quarters.
The significant increase in expenses, particularly employee expenses and fixed costs for the new wealth management vertical, has impacted profitability despite revenue growth. The continued investment and long break-even timeline for the wealth management arm suggest a medium-term impact on financial performance.
While revenues have shown growth and crossed a significant milestone, the profit after tax has declined year-on-year. The company is investing heavily in its wealth management vertical, which is currently incurring losses but is expected to break even in the future. This mix of positive revenue growth and declining profit leads to a neutral sentiment.
Prime Securities Limited reported its unaudited consolidated financial results for the nine months ended December 31, 2025. For the first time, the company's consolidated revenues crossed ₹100 crore, driven by a substantial increase in personnel across its Investment Banking and Wealth Management verticals. The total headcount in the Group grew to 120 as of December 31, 2025, compared to approximately 42 in the previous year.
The establishment of Prime Trigen Wealth Limited, the wealth management vertical, incurred additional fixed expenses of approximately ₹50 crore for the year on a run-rate basis (about ₹12-13 crore per quarter). The company anticipates Prime Trigen Wealth Limited to break even within the next six quarters.
Fees and Commission Income for the nine months FY'26 stood at ₹9,834 lakhs, a significant rise from ₹6,901 lakhs in the same period last year and ₹7,980 lakhs for the full year FY'25. Total Income for the nine months FY'26 was ₹10,787 lakhs, up from ₹7,893 lakhs in the prior year period and ₹8,940 lakhs for the full year FY'25.
Employee Expenses for the nine months FY26 surged to ₹4,252 lakhs from ₹2,208 lakhs in the same period last year and ₹2,781 lakhs for the full year FY'25. Consequently, Total Expenses for the nine months FY'26 reached ₹8,354 lakhs, a substantial increase from ₹3,860 lakhs in the prior year period and ₹4,838 lakhs for the full year FY'25.
Reported Profit after Tax for the nine months FY26 was ₹2,635 lakhs, a decrease from ₹3,750 lakhs in the same period last year and ₹3,830 lakhs for the full year FY'25.
Prime Trigen Wealth has achieved Assets Under Advisory (AUA) crossing ₹2,400 crore. It has onboarded over 725 clients and 360 families in its first nine months, operating from 8 locations with over 90 employees.
The company continues to focus on building a combination of annuity income flows and transactional revenue streams. Management remains optimistic about the company's prospects over the next few years, emphasizing the strategy of creating annuity revenue through franchise businesses like Prime Trigen Wealth to mitigate the lumpiness of the investment banking business.
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