Motilal Oswal Financial Services Limited (NSE: MOFSL) delivered a record-breaking performance in the third quarter of FY26, as the firm\u2019s strategic shift toward Annual Recurring Revenue (ARR) drove operating profits to an all-time high of \u20b9611 crore. A surge in retail participation via SIPs and explosive growth in private equity and wealth management propelled total net profit to \u20b9721 crore. On the back of these results, the company rewarded shareholders with an interim dividend of \u20b96 per share.<\/p>\n\n\n\n
\u20b945,145 crore.<\/p>\n\n\n\n
The company reported an annualized Operating Return on Equity (RoE) of 26% for the nine months ended December 2025.<\/p>\n\n\n\n
ICRA recently upgraded MOFSL to “AA+ Stable,” making it the first non-bank capital market player to achieve this rating.<\/p>\n\n\n\n
Operating profit after tax increased 16% year-on-year to \u20b9611 crore, led by the Asset Management and Private Wealth Management segments, supported by strong systematic investment plan inflows and steady contributions from the treasury portfolio.<\/p>\n\n\n\n
The quarter\u2019s performance was driven by a higher share of annual recurring revenue, which accounted for 65% of the total revenue mix, compared with 54% in the same period last year. The shift toward fee-based income was most pronounced in the asset management business, where profit after tax rose 65% year-on-year. The treasury investment book expanded 16% to \u20b99,562 crore during the period and has generated an internal rate of return of 18.5% since inception.<\/p>\n\n\n\n
Operating PAT: Reported at \u20b9611 crore for Q3 FY26, a 16% increase year-over-year and 10% sequentially.<\/p>\n\n\n\n
Total Revenue: Net revenue reached \u20b91,497 crore, up 11% compared to Q3 FY25.<\/p>\n\n\n\n
Margins: Profit Before Tax (PBT) margin improved to 54% from 52% in the previous year’s quarter.<\/p>\n\n\n\n
Asset Management: PAT grew 65% YoY to \u20b9227 crore; Mutual Fund AUM rose 40%.<\/p>\n\n\n\n
Private Wealth: AUM reached \u20b91.96 lakh crore, up 31% YoY.<\/p>\n\n\n\n
Capital Markets: PAT increased 15% YoY to \u20b970 crore.<\/p>\n\n\n\n
Housing Finance: PAT grew 12% YoY to \u20b942 crore with AUM rising 24% to \u20b95,379 crore.<\/p>\n\n\n\n
Management continues to focus on a “Twin-Engine” model, utilizing a large treasury book to provide stability and capital for its operating businesses. The strategy emphasizes growing the ARR-based revenue stream, which has increased from 58% in FY21 to 74% in 9M FY26. The company recently expanded its product suite by launching a maiden Private Credit Fund in January 2026 with a target size of \u20b93,000 crore.<\/p>\n\n\n\n
The results reflect the ongoing “financialization” of Indian household savings. MOFSL’s growth in Systematic Investment Plan (SIP) inflows, which surged 55% YoY to \u20b94,515 crore; aligns with broader industry trends of increasing retail participation in equity markets. The company maintains a strong capital position with a net worth of \u20b913,632 crore as of December 2025.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Motilal Oswal Financial Services Limited (NSE: MOFSL) delivered a record-breaking performance in the third quarter of FY26, as the firm\u2019s strategic shift toward Annual Recurring Revenue (ARR) drove operating profits to an all-time high of \u20b9611 crore. A surge in retail participation via SIPs and explosive growth in private equity and wealth management propelled total […]<\/p>\n","protected":false},"author":2382,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,392,1],"tags":[14643,9158,14773,10169,9175,14492,1792,10089],"class_list":["post-177993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-earnings","category-finance-stocks","tag-3q26-earnings","tag-capital-markets","tag-capital-markets-india","tag-earnings","tag-earnings-call","tag-financial-results","tag-financial-services","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177998,"url":"https:\/\/alphastreet.com\/india\/motilal-oswal-financial-services-reports-record-operating-profit-of-%e2%82%b9611-crore-in-third-quarter\/","url_meta":{"origin":177993,"position":0},"title":"Motilal Oswal Financial Services Reports Record Operating Profit of \u20b9611 Crore in Third Quarter","author":"Staff Correspondent","date":"January 28, 2026","format":false,"excerpt":"Motilal Oswal Financial Services Limited (NSE: MOFSL) reported a record quarterly operating profit after tax (PAT) of \u20b9611 crore for the period ended December 31, 2025, representing a 16% increase year-over-year. 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