Motilal Oswal Financial Services rose 5.41% to Rs 232 at 12:10 IST on BSE after consolidated net profit jumped 481% to Rs 32.65 crore on 54% rise in total revenues to Rs 178.60 crore in Q2 September 2014 over Q2 September 2013.
The company announced Q2 results after market hours on Monday, 20 October 2014.
Meanwhile, the BSE Sensex was up 54.42 points or 0.21% at 26,484.37.
On BSE, so far 23,772 shares were traded in the counter, compared with an average volume of 9,215 shares in the past one quarter.
The stock hit a high of Rs 236 and a low of Rs 219.40 so far during the day. The stock hit a 52-week high of Rs 255.25 on 21 July 2014. The stock hit a 52-week low of Rs 68 on 28 October 2013.
The stock had outperformed the market over the past one month till 20 October 2014, rising 0.8% compared with 2.44% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.46% as against Sensex's 3.07% rise.
The mid-cap firm has an equity capital of Rs 13.88 crore. Face value per share is Re 1.
The company's adjusted net profit rose 74% to Rs 32.65 crore in Q2 September 2014 over Q2 September 2013. EBITDA and adjusted net profit margins were 32% and 18% respectively in Q2 September 2014 compared with 34% and 19% respectively in Q1 June 2014. The balance sheet had net worth of Rs 1244.87 crore and borrowings of Rs 285.39 crore, as of 30 September 2014.
Broking and related revenues rose 65% to Rs 120.28 crore in Q2 September 2014 over Q2 September 2013. Fund based income jumped 91% to Rs 35.09 crore in Q2 September 2014 over Q2 September 2013. NBFC loan book was Rs 465 crore and Housing Finance disbursements Rs 50.71 crore as of September 2014. Re-allocation of investments in Motilal Oswal's mutual fund products from passive to active strategies resulted in capital gains of Rs 14.79 crore and is booked under Fund-based income.
Speaking on the performance of the company, Mr. Motilal Oswal, CMD said: The gains in the benchmark index tapered this quarter. The BSE Sensex was up only 4.8% QoQ, as compared to the stellar 13.5% seen in the previous quarter. But despite a dip in cash equity volumes this quarter from the highs of May and June, the activity levels are still significantly higher than the historical levels seen in the last three fiscal years. Retail participation has seen traction this year as compared to recent years, which is encouraging. As the IPO pipeline gains further momentum, it should ideally bring in more retail participants into the markets as they seek to benefit from the opportunities. We have remained committed to investing in our technology, people and infrastructure through this period. Our new venture - Aspire Home Finance, within a very short period of commencing business, has already helped over 500 Indian families realize their dreams of owning a house while building an efficient and effective operating model.
Motilal Oswal Financial Services firm offers a range of financial products and services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking and Principal Strategies.
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