Motilal Oswal Q1 net profit up by 70% y-o-y to ₹883.60 Crore

26 Jul 2024 , 10:50 AM

Motilal Oswal Financial Services Ltd reported a 67.9% year-on-year (YoY) increase in net profit to ₹883.6 Crore for the first quarter ended June 30, 2024.

In the same quarter, Motilal Oswal Financial Services reported a net profit of ₹526.1 Crore, according to a filing with the bourses. Revenue from operations increased by 54% to ₹2,312.3 Crore from ₹1,501.5 Crore in the same period last fiscal year.

EBITDA increased by 66.4% to ₹1,392.7 Crore in the first quarter of this fiscal year, up from ₹837.2 Crore in Q1 FY24.

In the reporting quarter, the EBITDA margin was 60.2%, up from 55.8% in the same period last fiscal year.

Motilal Oswal Financial Services’ net revenue from wealth management increased by 42% YoY to ₹530 Crore. Profit after tax (PAT) increased by 69%, hitting ₹177 Crore. Total assets under guidance increased by 105% over the previous fiscal year to ₹2,65,113 Crore.

As of June 30, 2024, distribution assets under management (AUM) increased by 42% year on year to ₹26,171 Crore, with net sales reaching ₹1,449 Crore. The company’s cash market share climbed by 186 basis points year on year, hitting 8% in the first quarter of fiscal 25.

Motilal Oswal Financial Services generated ₹134 Crore in net revenue from the capital market segment in Q1 FY25. The PAT for this sector was ₹57 Crore. During the quarter, the investment banking division successfully concluded six agreements totalling ₹5,369 Crore, indicating strong activity and successful execution.

In Q1 FY25, net revenues for asset and private wealth management operations increased by 32% to ₹385 Crore compared to the same period last year. The PAT for this segment was ₹157 Crore, up 30% year on year. The asset management business’s AUM, which includes mutual funds, portfolio management services, and alternative investment funds, increased by 70% year-on-year to ₹87,580 Crore.

At around 10.46 AM, Motilal Oswal was trading 2.08% higher at ₹589.30, against the previous close of ₹577.30 on NSE. The counter touched an intraday high and low of ₹608.45, and ₹579.25, respectively.

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