Motilal Oswal Q4 profits grow 10%

Motilal Oswal Financial Services on Monday reported a 10 per cent year-on-year growth in consolidated net profit to Rs 47 crore. Consolidated revenues for the financial services firm increased 30 per cent to Rs 316 crore. The FY16 revenues and profits grew 41 per cent to Rs 1,092.7 crore and 18 per cent to Rs 169.1 crore respectively.

Growth in the traditional broking business saw a decline during the March quarter. Broking and related revenues fell 8 per cent to Rs 126.5 crore. Motilal's retail cash volumes also fell 8 per cent, while institutional cash volumes remained flat during the March quarter.

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"Challenge persists across exports, rural economy and urban consumption. As reforms gain speed and capex gathers momentum, it should give a fill-up to market activity and investor sentiment," said Motilal Oswal, chairman and managing director.