Motilal Oswal Monetary Companies (MOFSL) reported a 15 per cent fall within the December quarter web revenue to ₹560 crore in opposition to ₹661 crore logged in the identical interval final 12 months, largely attributable to greater bills.
Earnings 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 will likely 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 sturdy development within the quarter underneath evaluate.
Wealth administration
Asset and personal wealth administration enterprise’ contribution to Q3 web revenue was up 63 per cent 12 months on 12 months to ₹234 crore, he mentioned.
MOFSL is rightly positioned to supply all providers and merchandise underneath 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 web revenue elevated 16 per cent to ₹190 crore. Property underneath recommendation grew to ₹3.08 lakh crore, up 67 per cent 12 months on 12 months.
Distribution AUM grew 38 per cent to ₹31,918 crore as of December-end. Distribution web flows quadrupled to ₹3,052 crore whereas distribution income grew 89 per cent to ₹104 crore.
