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Business News/ Markets / Stock Markets/  Bonus Share: Motilal Oswal Financial Services Board approves bonus shares in the ratio of 3:1: Share price scales highs
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Bonus Share: Motilal Oswal Financial Services Board approves bonus shares in the ratio of 3:1: Share price scales highs

Bonus Share: Motilal Oswal Financial Services Board approved bonus shares in the ratio of 3:1 . The Motilal Oswal Share price gained more than 8% post the announcement on Friday to scale 52-week highs. The share price however closed with gains of more than 5%.

Bonus Share: Motilal Oswal Financial Services Board approves bonus shares in the ratio of 3:1. Premium
Bonus Share: Motilal Oswal Financial Services Board approves bonus shares in the ratio of 3:1.

Bonus Share: Motilal Oswal Financial Services Board approved bonus shares in the ratio of 3:1. post the Board meeting on Friday.  

The Motilal Oswal Financial Services share price gained more than 8% to scale 52-week high on the bourses during the intraday trades on Friday. Motilal Oswal Financial Services share price ended the day with gains of more than 5%post the announcement.

The company release said that "the Board of Directors of the Company at its Meeting held on Friday, April 26, 2024 have, inter alia, considered and approved the Issuance of Bonus Shares in the ratio of 3:1 i.e. 3 (Three) Equity Shares of face value of Re. 1/- each for every 1 (One) existing Equity Share of face value of Re. 1/- each held by the Shareholders of the Company as on Record Date, subject to the approval of the Shareholders and other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as may be necessary"

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The meeting considered and approved financial results of Motilal Oswal Financial Services for the quarter ending March'2024 and financial year FY24 too.

For the FY24 Consolidated net profit at 2441.06 crore grew more than two folds over 931.69 crore in the year ago quarter.

For the quarter ending MArch'2024 net profit at 723.05 Crore grew 9.05% over 659.88 crore in the previous quarter and more than 4 folds over 164.72 Crore in  the year ago quarter.

Motilal Oswal Financial Services highlighted that the FY24 net profit including other comprehensive Income {OCI) stood at Rs. 2,626 crore and Q4FY24 consolidated net profit (incl OCl) at Rs. 625 crore. 

Consolidated ROE of 35% was reported by Motilal Oswal Financial Services during FY24 while operating ROE stood at 25% during Q4FY24.

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Consolidated operating revenue for FY24 at Rs. 5,075 crore grew 33% YoY while for the quarter (Q4FY24) at Rs. 1,569 crore were up 60% yoy and 29% sequentially.

The Capital market business net profit for Q4FY24 ar Rs. 251 crore grew  68% year-on-year and 23% sequentially while for the year at Rs. 803 crore grew47% YoY .

Asset & Wealth Management businesses reported strong growth with net profit during Q4FY24 at Rs. 210 crore rising up 79% YoY and 46% sequentially and in FY24 at Rs. 607 crore growing 34% YoY.

 

 

(More to come)

 

 

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Published: 26 Apr 2024, 03:35 PM IST
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