Motilal Oswal Shares Fell 3% as Net Profit Tanks 45% YoY

Shares of Motilal Oswal fell 3% after net profit fell 45% year-on-year.

At 10:30 am, Motilal Oswal Financial Services Ltd shares were trading 2.55% lower at Rs 610 on BSE after the firm reported a significant drop in net profit on a YoY basis. Motilal Oswal’s combined net profit fell about 45% to Rs 165 crore against Rs 299 crore in the same quarter last year.

The company’s revenue from operations also tumbled 2% to Rs 1,027 crore over the earlier year. The business also acknowledged a final dividend of Rs 3 per share for FY22-23. The revenue for the capital market business mounted at Rs 135 crore, and that from the asset and wealth business raised Rs 66 crore.

Motilal Oswal Financial Services is a concern in the stock broking domain. It is chiefly owned by promoters (69.68%), followed by the public (17.57%), FIIs (6.47%) and DIIs (6.28%).

Since January 1, 2023, the stock has decreased to 12.13% of its value. Thus, it had been disappointing the benchmark Nifty 50 index considerably. Nifty 50 has remained flat since 2023 beginning.

On a 5-year basis, the business’s stock has also underperformed on the Nifty 50 index by a considerable margin, losing 36.76% of its value over the last 5 years. However, the Nifty50 index has specified a positive return of 68.73% during the same duration.

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