Motilal Oswal Financial jumps 12% on results

Motilal Oswal Financial Services shares jumped over 12% on the BSE today. The buying interest in the counter was seen in the backdrop of recent earnings report for the second quarter.

At 12.20 pm, the stock was seen quoted higher by Rs 77.10, or 12.45%,to Rs 696.15 on the BSE today.

In a filing to the BSE, The financial services firm said its net profit has increased to Rs 142.29 crore as compared to Rs 3.07 crore (unaudited)  shown during the corresponding quarter last fiscal. Sequentially, for the June ended quarter, the firm had shown 132.04 crore in net profit.

The revenue for the quarter has improved due to 'Fee and Commission Income", which rose to Rs 379.17 crore.