Apr 29, 2013, 08.26 AM | Source: Moneycontrol.com
Motilal Oswal Financial Services' fourth quarter (January-March) consolidated net profit grew by 25.7 percent quarter-on-quarter to Rs 36.7 crore.
Consolidated total income increased 16.6 percent to Rs 131.8 crore in March quarter FY13 as against Rs 113 crore in December quarter.
The board of directors approved a buyback offer of up to 75 lakh shares.
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"...buyback for an amount not exceeding Rs 65 crore in cash, subject to a price not exceeding Rs 90 per equity share and subject to a maximum of 75 lakh equity shares and minimum of 18.75 lakh shares," the company said in a release sent to exchanges.
The board also recommended a final dividend of Re 1 per equity share of face value of Re 1 each.
Motilal Oswal's broking and related revenues fell 1 percent Q-o-Q to Rs 76.3 crore while fund based income increased 89 percent Q-o-Q to Rs 37.7 crore.
Asset management fee were Rs 17 crore in March quarter, up 22 percent over previous quarter and investment banking fees stood at Rs 0.8 crore in fourth quarter, down 59 percent from third quarter.
Meanwhile, other income was Rs 2.3 crore in January-March quarter FY13.
On Friday, the stock dropped 2.33 percent to close at Rs 85.80 on Bombay Stock Exchange.