Motilal Oswal Monetary Providers (MOFSL) reported a 15 per cent fall within the December quarter internet revenue to ₹560 crore in opposition to ₹661 crore logged in the identical interval final yr, largely attributable to increased bills.
Revenue was up at ₹2,002 crore (₹1,798 crore). General bills elevated to ₹1,262 crore (₹989 crore). The corporate has introduced an interim dividend of ₹5 per fairness share and the document date has been fastened as February 1. The dividend shall be paid earlier than February 26.
Motilal Oswal, Group MD and CEO, MOFSL, mentioned the working companies of wealth administration, capital market, asset and personal wealth administration have delivered robust development within the quarter beneath evaluate.
Wealth administration
Asset and personal wealth administration enterprise’ contribution to Q3 internet revenue was up 63 per cent yr on yr to ₹234 crore, he mentioned.
MOFSL is rightly positioned to offer all companies and merchandise beneath the financialisation theme and it has a few years to go, he added.
Wealth Administration income was up 30 per cent to ₹570 crore, whereas internet revenue elevated 16 per cent to ₹190 crore. Belongings beneath recommendation grew to ₹3.08 lakh crore, up 67 per cent yr on yr.
Distribution AUM grew 38 per cent to ₹31,918 crore as of December-end. Distribution internet flows quadrupled to ₹3,052 crore whereas distribution income grew 89 per cent to ₹104 crore.
