 "Motilal Oswal Financial Services rallies on strong Q2 results")
Motilal Oswal Financial Services has rallied 7% to Rs 310 on the BSE after reported a strong 33% year-on-year growth (YoY) in consolidated profit at Rs 43.4 crore for the quarter ended September 30, 2015 (Q2), on back of strong operational income. The company had profit of Rs 32.6 crore in a year ago quarter.
Consolidated total operational income during the quarter under review grew 46% at Rs 259 crore against Rs 177 crore in the corresponding quarter of previous fiscal.
On sequential basis, the revenues grew 25%, while profit surged 53%, the broking firm said in a statement.
The stock hit a high of Rs 310 on the BSE and has seen huge trading volumes. Till 11:52 am, a combined 134,459 shares changed hands as compared to sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
Consolidated total operational income during the quarter under review grew 46% at Rs 259 crore against Rs 177 crore in the corresponding quarter of previous fiscal.
On sequential basis, the revenues grew 25%, while profit surged 53%, the broking firm said in a statement.
The stock hit a high of Rs 310 on the BSE and has seen huge trading volumes. Till 11:52 am, a combined 134,459 shares changed hands as compared to sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.