Reference image
The stocks of Motilal Oswal Financial Services Ltd were trading at Rs 610 on BSE at 10:30 am today, which is a decrease of 2.55 percent. This decline in stock price followed the company’s report of a significant reduction in net profit on a year-on-year basis. In comparison to the same period last year, Motilal Oswal’s consolidated net profit has decreased by around 45 percent, dropping from Rs 299 crore to Rs 165 crore.
Also Read: Godrej Consumer Products acquires Raymond’s FMCG Business
There was a 2 percent decline in the company’s revenue from operations, which dropped to Rs 1,027 crore as compared to the previous year’s period. Additionally, the company announced a final dividend of Rs 3 per share for the financial year 2022-23. The capital market business generated a profit of Rs 135 crore, while the asset and wealth business earned Rs 66 crore.
Motilal Oswal Financial Services is a stock broking company with ownership primarily held by promoters (69.68 percent), followed by the public (17.57 percent), FIIs (6.47 percent), and DIIs (6.28 percent).
Also Read: Air India’s Big Move, Plans to Hire Over 1,000 New Pilots
From January 1, 2023, the stock has experienced a decline in its value by 12.13 percent, significantly underperforming the benchmark Nifty 50 index. In contrast, the Nifty 50 has maintained a consistent level since the beginning of this year.
Additionally, over the past five years, the company’s stock has significantly underperformed in comparison to the Nifty 50 index, with a decline of 36.76 percent in its value. Meanwhile, during the same period, the Nifty 50 index has yielded a positive return of 68.73 percent.
To read more such news, download Bharat Express news apps
