Motilal Oswal To Consider Share Buyback, Sees Record Operating Profit In Q4
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Motilal Oswal on Thursday informed the stock exchanges that the Board has decided to consider a share buyback program in its board meeting on 17 May. The company released its quarterly earnings today.
The board has declared final dividend of ₹3 per share resulting in total dividend of ₹10 per share.
In the fourth quarter, consolidated revenues grew by 21% at ₹1,100 crore, while consolidated profit after tax (PAT) stood at ₹302 crore including gains on investments.
Operating profit (excluding gains on investments and PE share of profit on investment) for the quarter was highest ever at ₹262 crore, showing a growth of 41% year-on-year.
“All of our businesses have delivered strong & sustainable performance in Q4FY22 & FY22. This was 2″ consecutive year of highest ever performance in terms of Revenue, Profit and AUM. Our retail broking business which is our cash cow business has achieved new highs on various parameters and benefitting from market expansion and industry consolidation. Our Institutional Broking business has been ranked 1 local brokerage house consecutively for 2nd year in Asiamoney poll 2021,” said Motilal Oswal MD & CEO.
On Thursday, Motilal Oswal shares were trading 0.78% higher in noon deals at ₹914 apiece on NSE.
Segment wise, capital markets, which comprises of retail broking, institutional equities and investment banking business, revenue surged 35% year-on-year to ₹693 crore in the March quarter.
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