MOSL announces issue of bonus shares in 1:3 ratio

Motilal Oswal shares jumped 5% to Rs 2,566 on BSE in Friday's trade after the company board recommended the issuance of bonus shares to the eligible shareholders of the company in the 1:3 ratio. Subject to the shareholders' approval, the bonus shares will be credited to the eligible shareholders on or before June 25, 2024.

The company made the announcement in its reporting of Q4 results on the exchanges. Motilal Oswal Financial Services (MOFSL) has reported its highest-ever profit after tax of Rs 2,626 cr and RoE of 35% for FY24.

Consolidated revenue for Q4FY24 stood at Rs 1,569 cr, up 60% year-on-year (YoY). The financial services firm has also delivered its highest ever quarterly and yearly Capital market business PAT Of Rs. 251, up 68% Y0Y and Rs. 803, up 47% YoY respectively.

“38% growth in FY24 Operating PAT to 1,535 er and Consolidated PAT of 2,626 er is a testimony to the structural tailwinds in our core businesses of capital markets and asset & wealth management. The capital market business remains significantly underpenetrated with the most exciting 5 years ahead of us,” said Motilal Oswal, MD & CEO of MOFSL.

Speaking on the performance of the company, Oswal further added, “Our presence in 98% of pin codes & 6% cross-sell ratio provides us with a ready base and headroom to grow our distribution business. With 95% of MOAMC strategies outperforming the benchmark, turnaround in Gross & Net Sales, presence across MF & Alternates, focus on equities and launch of new products, AMC business should once again take the growth leadership for MOFSL. Huge investments in our Wealth management business, strengthening of leadership across regions & functions combined with the wealth effect underway should all come together to make this business our next growth engine”.

Also read: Shriram Finance Q4 Results: PAT jumps 49% YoY to Rs 1,946 crore, NII rises 20%

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