Rs 14/Share Dividend: NBFC Co Declares 191% Jump In Q3 Profit, Shares Up 13%

Mid cap company from the NBFC sector, Motilal Oswal Financial Services shares zoomed 13% on BSE as the company reported its financial results and declared an interim dividend of Rs 14/- per equity share of the face value of Re 1/- each for the financial year 2023-24.

Last trading price of Motilal Oswal Financial Services shares on BSE is Rs 1710.75 per share with intraday gain of 10.36%. Motilal Oswal Financial Services stock zoomed 131% in last 6-months and soared 135% in last 1-year. Check details below:

Motilal Oswal Financial Services Declares Interim Dividend: As per the BSE filing of the company dated January 24, 2024, "we hereby inform the Exchange that the Board of Directors ("the Board") of the Company at its meeting held on January 24, 2024 has, inter alia, declared an Interim Dividend on the Equity Shares of the Company for the Financial Year 2023-24 at the rate of Rs. 14/- per Equity Share of the face value of Re. 1/- each, out of the profits of the Company."

Motilal Oswal Financial Services Declares Record Date: Further, pursuant to the provisions of Regulation 42 of the Listing Regulations, the Board has fixed the record date as February 06, 2024 for the purpose of payment of Interim Dividend and the said Interim Dividend will be paid to the Equity Shareholders, whose names appear in the Register of Members/Beneficial Owners of the Company as on February 06, 2024, added the BSE filing.

Motilal Oswal Financial Services Stock Performance & Return: The 52-week high price of Motilal Oswal Financial Services share on BSE is Rs 1860.10 apiece and 52-week low price is Rs 550.75 apiece, respectively. The company has a market capitalisation of Rs 25,409.88 crore. Motilal Oswal Financial Services shares surged 14% in last 1-week, soared 86% in last 3-months, rallied 92% in last 2-years, and offered return of 176% in last 3-years. In last 5-years, Motilal Oswal Financial Services shares zoomed 166%.

Motilal Oswal Financial Services Q3: The company today declared its consolidated net profit for the quarter ended December soared by 191.4% to Rs 659.87 crore as against Rs 226.45 crore in the corresponding quarter of last year. Higher revenue and reduced expenses helped in boosting its profits. The company declared its revenue from operations at Rs 1784.31 crore, up 65.90% as against Rs 1075.52 crore announced in the similar quarter of last year. Motilal Oswal Financial Services said it delivered its highest ever quarterly capital market business profit at Rs 202 crore, up 44% YoY. Motilal Oswal Financial Services' asset & wealth management businesses PAT for the quarter under consideration jumped to Rs 79 crore, up 17% YoY.

About: Motilal Oswal Financial Services Ltd. (MOFSL) was founded in 1987 as a small sub-broking unit, with just 2 people running the show. Today it has emerged as a diversified financial services firm offering a range of financial products and services such as private wealth, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, currency broking, and home finance.

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