Motilal Oswal Financial Services has announced its results for third quarter ended December 2010. Net profit in Q3 rose to Rs 42 crore compared to Rs 33 crore it reported in the previous quarter. Its consolidated total income went to Rs 160 crore versus Rs 154.5 crore in Q2.
In an interview with CNBC-TV18, Raamdeo Agrawal, Director & Co Founder, Motilal Oswal Financial Services gave his perspective on the quarter gone by and the road ahead.
Below is a verbatim transcript. Also watch the accompanying video.
Q: Take us through your earnings itself - was it a satisfactory quarter as you look into what might look like a more challenging quarter?
A: I think current quarter has been very stable compared to that of last year somewhat better than the preceding quarter. So I would say satisfactory. But the growth which was visible in the stock market itself in terms of volume that is not reflected here because purely the volumes have grown more in the options market and the cash market has actually come down significantly.
So, all in all, I think 6-7% growth at the top-line level and about 12-13% growth on the bottom-line level at Rs 42 crore looks to be satisfactory. I think more challenging is the next quarter because of the way the market is shaping up, the way cash volumes are slumping, I think it may be early days. First month is gone, budget and then post budget let us see how things pan out. But start of the quarter does not seem to be very satisfactory.
Q: Given that we are declining and volatility could increase
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