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Motilal Oswal Financial Services saw a 13 per cent rise in its consolidated net profit for the third quarter ended December 2010, due to rise in equity broking-related activities. The net profit for the quarter under review rose to Rs.42.14 crore from Rs 37.1 crore in the corresponding year ago quarter.
Total income of the brokerage firm increased 5.6 per cent to Rs 164.8 crore (Rs 156.1 crore). Income form equity broking-related activities went up close to 11 per cent to Rs 132 crore, while its investment banking revenues dropped more than 70 per cent to Rs 4.99 crore.
“We continue to invest into all of our businesses and we believe that we would be able to benefit from the emerging opportunities in the financial services space,” said Mr Motilal Oswal, Chairman and Managing Director
The standalone net profit rose to Rs 10.9 crore from Rs 8.8 crore and total income to Rs 18 4 crore from Rs 15.5 crore.
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