Motilal Oswal Q1 profits see three-fold jump; revenues up 72%

Motilal Oswal Financial Services today reported a nearly three-fold jump in net profit at Rs 79 crore for the first quarter of the current fiscal.
The company's net profit stood at Rs 28 crore during the April-June period of 2015-16.
Revenues surged 72 per cent to Rs 365 crore during the quarter under review.
"While we have increased our business volumes, asset mobilisation and client addition, we also improved our market share in some of our businesses," the firm's Chairman and Managing Director Motilal Oswal said in a statement.
Contribution of capital markets businesses (broking and investment banking) to overall profits was at 35 per cent in the quarter, as against 71 per cent last fiscal.

Contribution of asset and wealth management went up to 26 per cent, while the housing finance and fund-based businesses accounted for the balance 39 per cent.
"This trend is expected to continue... Strong liquidity on balance sheet allows us to fund investments in new initiatives including housing finance, private equity, etc," he added.