Motilal Oswal Q1 cons net profit at Rs 27.9 cr

Motilal Oswal has announced its first quarter results. The company's Q1 consolidated net profit was down at Rs 27.9 crore from Rs 45.68 crore, QoQ.

Its consolidated income from operations were down at Rs 137.41 crore from Rs 186.64 crore, QoQ.

The company's operating profit was at Rs 48.23 crore versus Rs 76.16 crore, QoQ basis. Its operating margins were at 35 % versus 40.81%, QoQ basis.

Motilal Oswal's Equity broking segment's revenues were down by 30% at Rs 106.62 crore versus Rs 153.8 crore.

Its Financial segment's revenues were up by 84% at Rs 24.9 crore versus Rs 13.54 crore.

The company's Investment banking segement's revenues were down by 10% at Rs 18.25 crore versus Rs 20.45 crore.

The investment banking advisory fees was up 12% to Rs 18 crore. The fund based income was up by 199% to Rs 13 crore versus Rs 4 crore YoY. The asset management fees recorded a 102% rise to Rs 6 crore versus Rs 3 crore  last year. YoY.

The company's market share increased by 30 bps to 4.6% in Q1FY09. Its employee costs went up 10% sequentially in Q1FY09.

In Q1FY09 the company witnessed 6% sequential decline in average daily trading volumes as against industry wide decline of 17%. Its blended commission yields seem to have came off due to change in proportion of cash and derivative volumes in total volumes( that led to relatively higher fall in broking revenues)

The company's investment banking  closed 7 IB deals during the quarter. Private Equity deployed 46% of AUM in India Business Excellence Fund.

The PMS AUMs declined from Rs 8.0 billion in March 2008 to Rs 6.9 billion at the end of Q1FY09.

The company's margin funding book increased by 26% QoQ to Rs 3.4 billion.