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Motilal Oswal Financial Services reported that its net profit in the March quarter was down 34 per cent at ₹303 crore against ₹462 crore logged in the same period last year.
The board of directors of the company will consider buy-back of share at its next meeting to be held on May 17. It has also declared a dividend of ₹3 per share.
Revenue in the quarter under review was down 8 per cent to ₹1,055 crore (₹1,148 crore), while expenses increased 14 per cent to ₹685 crore (₹599 crore).
The company plans to raise ₹1,000 crore through issue of non-convertible debentures.
Revenue from capital markets business comprising retail broking, institutional equities and investment banking was up 35 per cent at ₹693 crore.
Motilal Oswal, Managing Director, said the strategy to invest business profits in the company’s own equity investment products yielded strong returns and as a result the networth has touched a new high.
The asset management business is likely to gain from process-driven investing and its niche offerings. The private equity business has delivered on both successful exit of its investment and largest-ever fund raise, while each of the seven businesses offers headroom for growth, he added.
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