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Expect H2 to be better than H1: Motilal Oswal
Motilal Oswal has declared its second quarter results. In an interview to CNBC-TV18, Raamdeo Agrawal, director and co-founder of Motilal Oswal Financial Services said, he hopes that the second half will be better than the first half.
Motilal Oswal has declared its second quarter results. The company's consolidated net profit was at Rs 35 crore versus Rs 21.2 crore on quarter-on-quarter (QoQ) basis.
Its consolidated net sales were at Rs 110 crore versus Rs 107 crore on QoQ basis.
In an interview to CNBC-TV18, Raamdeo Agrawal, director and co-founder of Motilal Oswal Financial Services said, he hopes that the second half will be better than the first half.
Below is the edited transcript of his interview with Udayan Mukherjee and Sonia Shenoy of CNBC-TV18. Also watch the accompanying video.
Q: Is it still difficult for the broking space the way the last quarter panned out?
A: Yes. Year-on-year, we are still down by almost 25-30%. But sequentially we are seeing some stabilisation, there is 2-3% higher revenue, higher EBITDA.
Q: Could you tell us about this quarter's performance in different segments? How you have done?
A: Broking has stabilised sequentially. Our i-banking has been in a very bad shape. The revenue there is very low compared to last year also. Sequentially also it has not recovered. So, i-banking has remained flat. And that is one of the reason the results are looking depressed, even YoY.
Broking revenue YoY is down by about 23% largely due to the way the market has behaved, the cash volumes have slumped YoY. But sequentially things are stabilising. We hope that the second half will be better than the first half.
