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Motilal Oswal Financial Services reports Q1 FY15 Consolidated Revenues of Rs. 167.7 crore

Motilal Oswal Financial Services reports Q1 FY15 Consolidated Revenues of Rs. 167.7 crore, up 36% QoQ; Adjusted PAT of Rs. 32.1 crore, up 32% QoQ

 
 
Motilal Oswal Private Equity
PRLog - July 22, 2014 - MUMBAI, India -- Motilal Oswal Financial Services reports Q1 FY15 Consolidated Revenues of Rs. 167.7 crore, up 36% QoQ; Adjusted PAT of Rs. 32.1 crore, up 32% QoQ

Mumbai, July 19, 2014:
Motilal Oswal Financial Services (MOFSL), a leading financial services company, announced its results for the quarter ended June 30, 2014 post approval by the Board of Directors at a meeting held in Mumbai on July 19, 2014.

Performance Highlights
Rs. crores          Q1 FY15   Q4 FY14  Comparison   Q1 FY14    Comparison
         (Q4 FY14)          (Q1 FY14)

Total Revenues        167.7         123.7          36%          110.9          51%
EBITDA          57.7          40.3          43%          35.7          62%
Reported PAT          32.1          12.6          155%          18.5          74%
Adjusted PAT          32.1          24.3          32%          18.5          74%
Diluted EPS -          2.3          0.9          1.4
Rs(FV of Re 1)

PerformancefortheQuarter ended June 30, 2014

·      Revenues in Q1 FY15 were Rs.167.7 crore, up 36% QoQ and up 51% YoY

·      Reported PAT in Q1 FY15 was Rs.32.1 crore, up 155% QoQ and up 74% YoY

·      Adjusted PAT in Q1 FY15 was Rs.32.1 crore, up 32% QoQ and up 74% YoY

·      EBITDA and Adjusted PAT margins for Q1 FY15 were 34% (33% in Q4 FY14) and 19% (20% in Q4 FY14) respectively

·      The balance sheet had net worth of Rs.1,199.2 crore and net cash of Rs.135.3 crore as of Jun 30, 2014

·      The company closed its share buyback programme on Jun 9, 2014 and has bought back ~71 lakh shares, i.e. ~94% of the maximum offered 75 lakh shares, for a consideration of ~ Rs.56.0 crore (excl. brokerage and other charges)

Segmentresults for Q1 FY15:

·      Broking and related revenues were Rs.116.2 crore in Q1 FY15, up 56% QoQ and up 72% YoY. Daily volumes in the equity markets ended Q1 FY15 at a high of Rs.2.5 lakh crore, up 22% QoQ. It reached an all-time high of Rs.3.3 lakh crore during the month of June. Both cash and futures showed spurts this quarter, pulling down the proportion of options within overall volumes from 77% to 70% QoQ. Cash ADTO spiked 64% QoQ to Rs.22, 607 crore. These are the highest-clocked quarterly cash volumes since Q2 FY10. Within cash, delivery volumes showed significant uptick, up 58% QoQ. A very encouraging feature this quarter was an initial comeback of retail volumes within the cash segment, which had been sluggish of late. This was up 70% QoQ. Our market share increased from 1.5% to 1.8% QoQ, and our market share in the high-yield cash segment also improved. Resultantly, our blended yield increased from 3.9 bps to 4.3 bps QoQ

·      Fund based income was Rs.20.3 crore, up 1% from Q4 FY14 and down 25% from Q1 FY14. The loan book was Rs.526.0 crore, as of Jun 2014

·      Asset Management fee were Rs.18.1 crore for Q1 FY15, down 20% QoQ and up 44% YoY. During Q4 FY14, AMC revenues had included PMS performance fee of Rs.7.0 crore

·      Investment banking fees at Rs.7.9 crore was up 309% on a QoQ basis. Deal closures gathered some momentum during the quarter

·      Other income was Rs.5.1 crore in Q1 FY15

Highlights for Q1 FY15

·      Total client base increased to 808,912 which includes 710,101 retail broking and distribution clients

·      Pan-India retail distribution reach stood at 1,590 business locations across 511 cities, as of Jun 2014

·      Total assets under management/advice across mutual funds, PMS and private equity businesses was Rs.4,746.2 crore. Within this, our mutual funds AUM was Rs.963.0 crore, PE AUA was ~ Rs.1,996.0 core, while PMS AUM was Rs.1787.3 crore

·      Wealth management business managed assets of about Rs.3,000 crore

·      Depository assets were Rs.17,224.7 crore

·      MOSL was awarded the Best Performing National Financial Advisor – Equity Broker at the UTI-CNBC TV18 Financial Advisor Awards for the 4th year in a row

·      Motilal Oswal Private Equity made the second close of its 2nd real estate fund – India Realty Excellence Fund II (IREF II), raising total commitments of Rs.292.0 crore till-date

·      Aspire Housing Finance received its Certificate of Registration from NHB to commence the business; It has disbursed loans for 14 applications out of the 287 applications received as of Jun 2014

·      During Q1 FY15, MOFSL has contributed approx Rs.2.3 crore (~Rs.2.0 crore post-tax) for CSR initiatives in the field of Education

·      As per the requirement of the Companies Act, 2013, the company has computed depreciation with reference to the useful life of respective assets specified in and in the manner prescribed in Schedule II of the Act. Consequently, depreciation for the quarter ended Jun 30, 2014 is higher by ~ Rs.1.4 crore, and an amount of Rs.2.6 crore has been charged to the opening balance of the retained earnings in respect of assets whose remaining useful life is Nil as at Apr 1, 2014

·      Our investment in Motilal Oswal’s mutual fund products stands at Rs.234.0 crore, as of Jun 30, 2014. The unrealized gain on these investments is Rs.29.7 crore, as of Jun 30, 2014

For further details contact:

Mr. Hari Krishnan, Motilal Oswal Financial Services
Ph - +91-22-39825500, Mob- +91-9820520392

Mr. Sameer Kamath, Motilal Oswal Financial Services
Ph - +91-22-39825500, Mob- +91-9820130810

Mr. Anirudh Rajan / Alpesh Nakrani, Paradigm Shift Public Relations
Mob- +91-9892343828/ +91-9869121167, Tel-   +91-22 22813797 / 98

Media Contact
Mr. Hari Krishnan, Sr.Vice President - Marketing
+91 22 - 39804352
***@motilaloswal.com

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