Motilal Oswal Financial Services’ net profit increased over four times to ₹725 crore in the fourth quarter ended March 31, 2024 against ₹165 crore logged in the same period last year.
Income more than doubled to ₹2,158 crore (₹1,034 crore).
The company board announced issue of three bonus equity share for every one share held by investors.
Motilal Oswal, MD & CEO, said the capital market business remains significantly under penetrated with most exciting 5 years ahead and the company’s presence in 98 per cent of pin codes and 6 per cent cross-sell ratio provides a ready base and headroom to grow distribution business.
The AMC business should once again drive the growth with 95 per cent of its strategies outperforming the benchmark, turnaround in sales, focus on equities and launch of new products, he said.