 "Q2 results: Motilal Oswal Financial Services' PAT up 11% to Rs 509 crore")
Motilal Oswal Financial Services Ltd on Friday reported an 11 per cent growth in Profit After Tax (PAT) at Rs 509 crore for three months ended September 2022 driven by robust growth across the segments.
This was the highest quarterly profit posted by the company.
In comparison, the company had a PAT of Rs 458 crore in the same quarter of the preceding fiscal, it said in a statement.
The company's revenues grew by 13 per cent to Rs 1,098 crore in the quarter under review from Rs 971 crore in the July-September period of the financial year 2021-2022.
"We have achieved one of the highest quarterly profit of Rs 509 crore, following robust and sustainable performance across the businesses. Our retail broking business which is our cash cow business continued to improve its market share and benefitting from market expansion and industry consolidation," the company's MD and CEO Motilal Oswal said.
"Our asset management business has seen strong improvement in performance and is likely to gain from process driven investing and its niche offerings. Our wealth management business has delivered consistent performance over years and on its way to achieve scale in this business. Our private equity business has successfully delivered on fund raise of its largest ever fund. Our housing finance business has witnessed turnaround by improving disbursements and asset quality trend which is now geared up for sustainable growth," he added.
The company's assets under advisory across AMC, wealth, private equity and broking & distribution businesses stood at Rs 3.2 lakh crore at the end of September this year.