Motilal Oswal share price rises on record quarterly profit at Rs 536 crore in Q2 - Moneycontrol.com
The company reported Rs 536 crore in consolidated net profit for the quarter to September, a full 81 percent growth year-on-year and the highest ever quarterly profit.
Motilal Oswal share price was up over 3 percent intraday on October 29, a day after the company declared its September quarter results.
Motilal Oswal Financial Services on October 28 reported Rs 536 crore in consolidated net profit for the quarter to September, a full 81 percent growth year-on-year and the highest ever quarterly profit, driven by investment gains to the tune of Rs 267 crore and the record high performance of the broking vertical.
The brokerage-led financial institution said its consolidated revenue grew 46 percent annualised to Rs 1,094 crore. For the half-year ending September, consolidated revenue grew 42 percent annualised to Rs 1,953 crore, and the group earned a net profit of Rs 758 crore, which is 63 percent more than the same 6 months period last fiscal.
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The numbers are supported by all business verticals with core business firing on all cylinders, the company said, adding capital market business net income jumped 52 per cent annualised, and asset and wealth management verticals grew over 226 percent. This was led by a 44 percent growth in AMC's profit, and an 88 percent in wealth management and a 12x growth in private equity business driven by strong profit on exit of investment, Motilal Oswal, managing director and chief executive, said.
The stock was trading at Rs 913.70, up Rs 24.70, or 2.78 percent at 12:15 hours. It has touched an intraday high of Rs 949.70 and an intraday low of Rs 906.95.
The scrip was trading with volumes of 41,072 shares, compared to its five day average of 23,038 shares, an increase of 78.28 percent.
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