Motilal Oswal net dips 10% in March quarter

The Mumbai-based broking firm Motilal Oswal Financial Services on Wednesday reported a 10 per cent year-on-year drop in net profits to Rs 21.7 crore for the quarter ended March 2012. The company's revenues declined two per cent to Rs 128.6 crore during this period. Revenues, however, rose 16 per cent on a sequential basis.