Motilal Oswal Q4 profit jumps 113% to Rs 90 cr

This, on the back of Rs 537 cr revenue

Financial services company Motilal Oswal reported a 113 per cent increase in profit after tax (PAT) year-on-year (y-o-y) for quarter ending in March 2017. The company reported a PAT of 90 crore on the back of Rs 537 crore revenues during quarter ending March 2017.

This jump in the profit was on account of strong revenues in the housing finance and asset management verticals, which went up 160 per cent and 68 per cent respectively. The broking arm had registered a 30 per cent y-o-y growth in revenues of broking arm thanks to the rally in the markets. Shares of Motilal Oswal closed at Rs 863.5 in the BSE on Wednesday, Rs 6 or 0.7 per cent lower.