Motilal Oswal Fin logs record profit of Rs 1.2K cr; ABSL AMC net up 36%

Motilal Oswal Financial Services (MOFSL) recorded the highest-ever quarterly profit of Rs 1,242 crore during the quarter ended September for the financial year 2024 (Q2FY25) buoyed by treasury income and strong traction in the capital. Net profit was up 2.24 times year-on-year (Y-o-Y) and 22 per cent quarter-on-quarter (Q-o-Q). Profit for the wealth management vertical (comprising retail broking and distribution) rose 71 per cent Y-o-Y to Rs 22 crore, capital market vertical (institutional equities and investment banking) rose 45 per cent Y-o-Y to Rs 73 crore and asset & private wealth management businesses (asset management, private equity, real estate funds) rose 63 per cent Y-o-Y to Rs 213 crore. Meanwhile, net profit for the housing finance vertical declined 19 per cent to Rs 27 crore. Operating profit grew 53 per cent Y-o-Y to Rs 541 crore, while treasury profit doubled to Rs 701 crore. 

ABSL AMC net surges 36% to Rs 240 crore   Aditya Birla Sun Life (ABSL) Asset Management Company (AMC) on Monday reported a 36 per cent year-on-year (Y-o-Y) jump in the net pro - fit for the previous quarter (Q2) at Rs 240 crore. 

Total revenue went up 33 per cent in the same period to Rs 520 crore, the AMC said. During the quarter, ABSL AMC's average assets under man - a gement (AUM), which also includes the alternate assets, stood at Rs 4 trillion, the firm stated. The equity mutual fund quarterly AUM increased by 39 per cent Y-o-Y to Rs 1.8 trillion.  - BS REPORTER  KFin Tech profit up 46% at Rs 89 crore

  Financial services firm KFin Technologies on Monday said its profit in the second quarter (Q2) stood at Rs 89 crore, up 46 per cent from the same quarter last year. Revenue from operations rose 34 per cent year-on-year (Y-o-Y) to Rs 280 crore. For the first half (H1) of financial year 2024-2025 (FY25), net profit rose 50 per cent Y-o-Y to Rs 157 crore, the company said. It provides services and solutions to capital market firms including asset managers and corporate issuers across asset classes.  BS REPORTER

 

Avanse Fin, NTPC Green get Sebi’s green light   Sebi has given green light to the initial public offer ings (IPOs) of NTPC Green Energy and Avanse Financial Services. NTPC Green had filed its draft red herring prospectus with Sebi for a Rs 10,000 crore IPO on September 20.  

BS REPORTER

Quadrant raises Rs 48 cr in pre-public issue placement   Quadrant Future Tek — engaged in developing train control — has raisedRs 48 crore via pre-IPO (initial public offering) placement. The firm issued 2,00,000 shares at Rs 240 apiece to investors, which included Ashish Kacholia and Capri Global.  BS REPORTER