Motilal Oswal Q3 net up 66% at Rs 148 cr

Motilal Oswal Financial Services today reported a 66 per cent surge in net profits at Rs 148 crore, for the three months ended December 31, the highest ever for the company in a third quarter.
The company's net profit stood at Rs 89 crore, for the October-December period of 2017-18.
The consolidated revenues for Motilal Oswal stood at Rs 736 crore for the quarter under review, up nearly 62 per cent from about Rs 456 crore in the same period year-ago, the company said in a statement.
"Our strategy to diversify our business model towards linear sources of earnings like asset management and housing finance continues to show results, with over half of the revenue pie now coming from these new businesses," Motilal Oswal Financial Services CMD Motilal Oswal said.

"Even our traditional businesses saw strong uptick during the quarter by registering record revenues. With this strategy, we have achieved the highest ever quarterly revenue and profit during the third quarter of 2017-18," he added.
The company's capital markets business', which comprises of retail broking, institutional equities and investment banking, revenues were Rs 312 crore in the third quarter of the current fiscal, an 87 per cent rise from the same period year-ago.

Profits grew much faster at 92 per cent year-on-year and contributed about 38 per cent of net profits.
The asset management segment revenues rose by 93 per cent to Rs 169 crore in the period under review.

"The asset management business offers the highest scalability and operating leverage among all our businesses," the company said.