Motilal Oswal Financial Services reports a topline of Rs. 1,514 million and PAT of Rs. 375 million for Q1FY11
Motilal Oswal Financial Services (MOFSL), a leading financial services company, announced its results for quarter ended June 30, 2010 post approval by the Board of Directors at a meeting held in Mumbai on Jul 23, 2010.
- (1888PressRelease) July 27, 2010 - Performance Highlights
Rs. Million Q1 FY11
Comparison
(Q1 FY10)
Total Revenues 1,514 1%
EBIDTA 613 1%
PAT (before E& EOI) 375 5%
EPS- Rs (FV Re 1) 2.62 2.39
^ E & EOI = Exceptional items & Extraordinary items
Performance for the Quarter ended Jun 30, 2010
• Revenues for the quarter at Rs.1,514 million, up 1% as compared to same quarter of previous year.
• PAT for the quarter at Rs.375 million, up 5% as compared to same quarter of previous year.
• Strong balance sheet with networth of Rs. 9,842 million and net cash of Rs 1,971 million as on Jun 30, 2010.
• As compared to Q4 FY10 (adjusted for certain period specific items such as annual performance fees in PMS, capitalization of interest and profit on sale of investments); PAT was down marginally by 2%.
Speaking on the performance of the company, Mr. Motilal Oswal, CMD said.
"The Indian indices remained range bound for better part of last quarter resulting in lower retail participation in the markets. The outlook for the remaining part of the year would be interplay of several factors. In the backdrop of stable interest rates, capex spending and strong consumption, monsoons and global markets would be the near term triggers. However, good earnings visibility, reforms and strong fund flows will be the key drivers for the market upcycle. We remain optimistic on the medium to long term growth prospects for the capital markets and we believe that our businesses are well poised to capture these opportunities.
Our Asset Management company had a successful closing of its maiden NFO, MOSt Shares M50 ETF, an open ended Exchange Traded Fund focusing on investing in a fundamentally weighted basket of stocks that comprise the S&P CNX Nifty Index (Nifty). The NFO received a very good response from all quarters of investor community. We believe that we have seeded the right platform to create a differentiated Mutual Fund business."
Segment results
• Broking and related revenues were down 4% to Rs.1,112 million as compared to Rs.1,157 million in the same quarter of previous year.
• Investment banking fees were up 34% to Rs.129 million as compared to Rs.96 million in the same quarter of previous year.
• Asset Management fees were up 65% to Rs.77 million as compared to Rs.47 million in the same quarter of previous year.
• Fund based income was down by 18% to Rs.143 million as compared to Rs.175 million in the same quarter of previous year.
• Other income was Rs. 53 million as compared to Rs. 17 million in the same quarter of previous year. This includes profit on sale of property Rs. 34 million.
Business highlights for Q1 FY 2011
• As at Jun 2010, the customer base increased to 642,934 and retail distribution expanded its reach to 1,481 outlets across 586 cities.
• Total Assets under management for the Group is at about ~Rs.18 billion, which includes assets under management under our portfolio management services and assets under advice for private equity funds.
• Motilal Oswal Asset Management company (MOAMC) had a successful closing of its maiden NFO, MOSt Shares M50 ETF, an open ended Exchange Traded Fund focusing on investing in a fundamentally weighted basket of stocks that comprise the S&P CNX Nifty Index (Nifty). The NFO received a very good response from all quarters of investor community
About Motilal Oswal Financial Services Limited.
Motilal Oswal Financial Services Ltd. (NSE :MOTILALOFS, BSE :532892, BLOOMBERG : MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,481 business locations spread across 586 cities and the online channel to over 642,934 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in the Asia Money Brokerage Polls for India. In the Starmine India Broker Rankings 2009 from Thomson Reuters, we won awards in 3 out of 4 categories and also bagged the No. 1 Broker Award in the ET Now - StarMine Analyst Awards 2009.
For further details contact:
Mr Hari Krishnan
Motilal Oswal Financial Services
Ph - +91-22-39825500
Mob- +91-9820520392
Mr Sameer Kamath
Motilal Oswal Financial Services
Ph - +91-22-39825554
Mob- +91-9820130810
Mr Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Mob- +91-9892343828/ +91-9869121167
Tel- +91-22 22813797 / 98
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam