Diversified financial services company Motilal Oswal Financial Services Ltd reported consolidated net profit of Rs 79 crore in the June quarter, up 179 per cent from the previous year. Consolidated revenues were Rs 365 crore for the quarter, up 72 per cent year-on-year.
Broking and related revenues (which includes broking and wealth management) were Rs 143 crore in Q1FY’17, up 23 per cent year-on-year, with the online business accounting for 45 per cent of total volumes in the quarter. Fees from the asset management business (public and private equity together) were Rs 65 crore, up by 62 per cent. Fund based income, primarily from the private equity business, was Rs 46 crore.
Motilal Oswal, CMD, said in a press statement: “Our business segments have delivered healthy growth as our investments into critical resources to build these businesses over the last couple of years are now showing positive results. While we have increased our business volumes, asset mobilization and client addition, we also improved our market share in some of our businesses.”
Motilal Oswal’s offerings include retail and institutional broking, wealth management and investment banking, asset management and housing finance.