Signals, Powered By EquityPandit
Motilal Oswal Financial Services reported their quarterly earnings for the current fiscal June-end quarter, with net profit falling by 21 per cent year-on-year (YoY). The net Profit After Tax (PAT) was reported at Rs.115.4 crores against the net profit of Rs.146.8 crores earned during the corresponding quarter of the previous fiscal.
EBITDA margin increased to 37 per cent during the June-end quarter of the current fiscal as compared to 29 per cent last year. The increment was accounted for by better operating leverage on higher growth in fee income through the distribution of financial products.
Despite having infused Rs 650 crore as capital so far, the performance of the housing finance subsidiary continues to be weak and non-meaningful to the group. Revenue in Q1 stood at Rs 712 crore, up 8 per cent YoY, led by a 44 per cent growth in asset and wealth management and 17 per cent growth in the capital market business.
During the quarter under review, the broking and distribution revenue and profit grew 22 per cent and 120 per cent YoY to Rs 303.6 crore and Rs 56 crore, respectively, aided by strong volume growth and operating leverage.
