HDFC Securities: MOFSL Q2 Review - Strong Show But Headwinds Ahead
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HDFC Securities Report
Motilal Oswal Financial Services Ltd.’s strong growth in derivative average daily trading volumes (39.5% QoQ) bolstered capital markets adjusted profit after tax 52.1/53.1% YoY/QoQ.
An improvement of 0.3/9.7% YoY/QoQ in quarterly average assets under management meant that asset management company’s adjusted profit after tax recovered 20.9% QoQ.
Management continues to increase provisioning (up 52.0% QoQ), resulting in a 30.7% QoQ decline in Motilal Oswal Home Finance Ltd.'s profit before tax.
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