BackMotilal Oswal to raise up to Rs1,000 crore via NCDs
Motilal Oswal also reports a 9.8% rise in net profit to `47.17 crore for the March quarter
Premium
New Delhi: Motilal Oswal Financial Services Ltd on Saturday said its board has given approval for raising up to ₹ 1,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.
According to a regulatory filing, in a meeting held on Saturday, the board considered and approved “raising funds via issue and listing of non-convertible debentures on a private placement basis, within the overall limits of ₹ 1,000 crore, subject to the approval of the members". Moreover, the company also announced its earnings for the last quarter of 2015-16 fiscal. The company reported a 9.8% rise in net profit to ₹ 47.17 crore for the March quarter as against ₹ 42.96 crore in the same period last fiscal.
Total income during January-March grew to ₹ 302.88 crore as against ₹ 239.59 crore. For the full fiscal, net profit surged 17.8% to ₹ 169.09 crore compared with ₹ 143.59 crore a year ago. While, total income increased to ₹ 1,054.90 crore during the fiscal as against ₹ 768.96 crore.
During the quarter, second interim dividend of ₹ 1.5 per share was also approved by the board of the company, it said. “The total interim dividend declared and paid during the financial year 2015-16 is ₹ 3.5 per equity share," it added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
