Motilal Oswal Financial Services Ltd. grew from a small sub-broking unit to a significantly diversified financial services firm. Its growth is reflected in the 550 cities and towns with over 2500 business locations, the company has its network spread over.
Financial Results:
Up by 12 percent year-on-year, the company’s operating profit after tax for the nine-months stood at INR 619 crores. This was considerably lower than the company’s stated quarter revenue of Rs 217 crores.
In the third quarter, the core businesses of the company, starting with the Capital Markets business, reported a 2% increase in quarter-on-quarter profit after tax which stood at INR 136 crores. For the nine month period, the company reported a 3% increase in YoY operating profit which stood at INR 359 crores. Profit after tax of INR 67 crores was reported by the Asset and Wealth business. This is flat quarter on quarter. For the nine month period it reported a profit after tax of INR 192 crores. This is reportedly 7% lower than the same period in the previous year.
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