Motilal Oswal Financial Services (MOFSL) has posted its highest-ever quarterly consolidated net profit of ₹448 crore for the quarter-ended March 2021, driven by ₹264 crore investment gains. The brokerage firm had posted a loss of ₹253 crore in the comparative quarter, a year-ago .
Revenues for the quarter jumped to ₹1,143.78 crore against ₹613.96 crore on a year-on-year (yoy) basis.
For the full year, Motilal Oswal reported a profit of ₹1,245.45 crore against ₹183.37 crore in the previous fiscal. The firm’s revenues grew to ₹3,631.04 crore compared to ₹2,356.41 crore on a yoy basis.
Fee-based verticals
Motilal Oswal, MD & CEO at MOFSL said: “This financial year has been a landmark year for us. We have achieved highest ever revenues and profits. Most of our fee-based businesses are touching new high in terms of scale. Our retail broking business, which is our cash cow business, has achieved new highs on various parameters and is benefitting from industry consolidation with its knowledge driven phygital offerings. Our strategy to invest business profits in our own equity investment products has registered highest ever profits and as result our net worth has touched new high.”
Shares of MOFSL closed 1.4 per cent higher at ₹638.45 on the BSE on Friday even as the Sensex crashed almost 1,000 points.