Motilal Oswal posts Rs 148 cr profit in Q4

Mumbai: Motilal Oswal Financial Services on Saturday reported a consolidated net profit of Rs 148.3 crore for the fourth quarter ended March 2019, up 1,065.5 per cent from a year ago. The company had reported a consolidated net profit of Rs 12.7 crore in the same period a year ago while in the previous quarter the profit stood at Rs 35.4 crore.

The company reported a consolidated net profit of Rs 290.3 crore for FY19 compared to the Rs 623.2-crore profit in the previous fiscal. Consolidated total income stood at Rs 661 crore for the March quarter, down 0.2 per cent compared to Rs 662.68 crore in the same period a year ago. The consolidated total income rose 5.9 per cent compared to the December quarter when it reported income of Rs 62,404 crore.

For FY19, total income stood at Rs 2,468.2 crore compared to Rs 2,752.3 crore in FY18. FY19 profit was lower on account of higher provisioning/write-offs taken in Aspire Home Finance and lower mark-to market on fund-based investments, the company said in a release. Shares of Motilal Oswal Financial Services ended down 1.26 per cent at Rs 664.20 on Friday.