Motilal Oswal Financial Services Shares Surge 5% On Strong Q1 Results
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Shares of Motilal Oswal Financial Services climbed 5% intraday on Friday after the company posted strong results in the June quarter. 

What Happened: Motilal Oswal reported a 67.36% year-on-year rise in net profit to ₹881.89 crore. Its revenue from operations rose 53.99% to ₹2,312.34 crore. Its operating profit increased by 41% from the previous year to ₹431 crore. 

The company's total asset under advice increased 91% from the previous year to ₹5 lakh crore. Its total number of clients increased 29% to 72 lakh. 

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Revenue from the wealth management segment grew 69% year on year to ₹177 crore. The capital market segment revenue fell 4% to ₹57 crore. In the cash market, the company's market share increased 1.86% to 8%, while futures and options premium turnover jumped 2.25% to 9.5%. 

Asset and private wealth management jumped 30% to ₹157 crore. While the housing finance segment's revenue fell 4% to ₹28 crore. 

Price Action: On Friday Motilal Oswal Financial Services’ share price gained 5.39% to intraday high of ₹608.45.

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Motilal Oswal Financial Services