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Updated January 24th, 2024 at 18:46 IST

Motilal Oswal Q3 profit rises to Rs 660 crore

The consolidated operating revenue for the said quarter surged to Rs 1,377 crore, as against Rs 1,060 crore posted in the corresponding period a year ago.

Motilal Oswal Q3 results
Motilal Oswal Q3 results | Image:Motilal Oswal
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Motilal Oswal Q3 earnings: Motilal Oswal Financial Services announced on Wednesday that its Profit After Tax (PAT) witnessed an exceptional threefold surge, reaching Rs 660 crore in the quarter ending December 2023, propelled by increased revenues. The company reported a net profit of Rs 229 crore during the year-ago period. 

The consolidated operating revenue for the said quarter surged to Rs 1,377 crore, as against Rs 1,060 crore posted in the corresponding period a year ago.

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The Capital Market business particularly demonstrated stellar performance, reporting an all-time high quarterly profit. The retail market share position in the Cash and F&O Premium segment also strengthened, reaching 7.5 per cent and 8.1 per cent, respectively. Revenues for this segment soared to Rs 1,028 crore.

The Asset and Wealth Management segment reached new milestones, with Assets Under Management (AUM) touching an impressive Rs 1.64 lakh crore. Motilal Oswal said the strong improvement in performance and flows in the Asset Management business, poised to gain from process-driven investing and niche offerings. The Wealth Management business witnessed a remarkable 117 per cent AUM growth, reaching Rs 89,632 crore as of December 31, 2023.

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For the 9 months ending December 2023, Motilal Oswal Financial Services reported a PAT of Rs 1,717 crore, exhibiting significant growth compared to Rs 767 crore in the corresponding period a year ago. The company declared an interim dividend of Rs 14 per share, underscoring its commitment to shareholder value.

The positive financial results were well-received in the market, with shares of Motilal Oswal Financial Services closing at Rs 1,726 apiece on the NSE, marking an impressive 11.32 per cent increase over the previous close.

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(With PTI inputs.)

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Published January 24th, 2024 at 18:46 IST

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