Motilal Oswal Financial Services announced Q1FY23 result:

• In Q1FY23, consolidated revenues grew by 13% YoY at Rs 9.65 billion. Operating profit (excluding gains on investments) for the quarter was Rs 1.82 billion, +40% YoY.
• Capital market business PAT grew by 16% YoY; Asset & Wealth +6% YoY. Housing finance business profit grew by 279% YoY to Rs 321 million.
• Due to equity market correction, MTM on fund-based investments has impacted total profits for the quarter.

Speaking on the performance of the company, Mr. Motilal Oswal, MD & CEO said  "All of our businesses have delivered robust & sustainable performance in Q1FY23 amidst challenging environment. Our retail broking business which is our cash cow business has improved its market share and benefitting from market expansion and industry consolidation. Our strategy to diversify our business model towards linear sources of earnings continue to deliver results. Our Asset Management business is likely to gain from process driven investing and its niche offerings. Our wealth management business has delivered consistent performance over years and on its way to achieve scale in this business. Our PE business has delivered on fund raise of its largest ever fund. Our Housing finance business has witnessed turnaround by improving disbursements trend and now geared up for sustainable growth. There is immense potential and opportunities in the market for each of our businesses to flourish. "

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