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.
See Also: SJVN Shares Soar 13% After Getting ₹13,947 Cr Project In Mizoram
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.
Read Next: Foxconn Mulls Assembly Of iPads At Tamil Nadu Plant, Eyes India Expansion Amid US-China Woes: Report
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.