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इंडियन आवाज़     19 May 2024 02:34:41      انڈین آواز

Motilal Oswal net profit jumps to 28% in Q1

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AMN / MUMBAI

Motilal Oswal Financial Services’ consolidated revenues jumped 58 per cent year-on-year to Rs 576 crore in the June 2017 quarter, while net profit grew 28 per cent to Rs 101 crore. Both have been the highest ever for the company in a quarter.

The upward financial performance has been mainly led by its non-capital market businesses, such as asset management and housing finance. About 56 per cent of the revenue came from asset and wealth management and housing finance, compared to 49 per cent last year.

“Our strategy to diversify our business model towards linear sources of earnings has continued to show results, with over half of the revenue pie now coming from these new businesses,” said Motilal Oswal, Chairman and MD.

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