Motilal Oswal Q1 Profit Soars 52% to Rs 1,021 cr

New Delhi, Jul 25 (PTI) Motilal Oswal Financial Services Ltd (MOFSL) on Thursday posted its highest-ever quarterly profit of Rs 1,021 crore for the April-June quarter of 2024-25, marking a 52 per cent jump from the year-ago period.

The company reported a profit after tax (PAT) of Rs 671 crore in the same quarter preceding fiscal.

Revenue from operations surged to Rs 2,312.3 crore in the April-June quarter of the current financial year (FY25) against Rs 1,501.5 crore in the corresponding period of the preceding fiscal, according to an exchange filing.

The company's wealth management business posted a PAT of Rs 177 crore, a 69 per cent year-on-year increase. Further, net revenue for the segment grew by 42 per cent year-on-year to Rs 530 crore.

Similarly, the asset & private wealth management business recorded a PAT of Rs 157 crore, up 30 per cent from the previous year. Also, net revenues for the business were at Rs 385 crore during the quarter under review, up 32 per cent year-on-year.

MOFSL is a financial services company offerings wealth management, capital markets, asset & wealth management, housing finance & equity based treasury investments amount others.