Motilal Oswal Q2 Results: PAT plunges 68% YoY to Rs 362 crore, but posts record operating profit

Motilal Oswal Monetary Companies Ltd (MOFSL) reported 68% year-on-year (YoY) decline in its consolidated web revenue at Rs 362 crore. Nevertheless, the corporate’s working revenue rose to Rs 554 crore, whereas its half-year revenue for FY26 stood at Rs 1,088 crore, up 11% year-on-year.

Income from operations fell 35% YoY to Rs 1,849 crore.

Asset administration wholesome

The asset administration enterprise continued to be MOFSL’s greatest development driver, with PAT up 46% year-on-year to Rs 180 crore.

Whole belongings below administration (AUM) rose 46% to Rs 1.77 lakh crore, led by a sturdy 57% rise in mutual fund AUM. The corporate’s web gross sales market share stood at 8.2%, whereas SIP inflows surged 2.2 occasions YoY to Rs 4,172 crore, underscoring retail investor participation.

Reside Occasions

MOFSL additionally accomplished the primary shut of its IBEF V non-public fairness fund at Rs 6,900 crore and is planning to shut the fund at twice the dimensions of its earlier elevate, signalling continued investor urge for food for its different funding merchandise.

Non-public wealth scales up

The non-public wealth administration enterprise delivered one other sturdy quarter, with PAT up 23% YoY to Rs 110 crore. Internet gross sales tripled to Rs 7,358 crore, pushed by sturdy shopper acquisition and rising productiveness. The enterprise’s AUM stood at Rs 1.87 lakh crore, marking a 19% year-on-year enhance.

Retail broking sees softer quarter

In distinction, the retail broking and distribution section noticed a moderation in profitability, with PAT down 24% YoY to Rs 170 crore.

Nevertheless, operational metrics remained resilient — the corporate’s money quantity market share stood at 7.1%, and its F&O premium market share at 8.7%, taking its general blended ADTO market share to eight%.

The distribution enterprise continued its regular development, with web inflows rising 29% to Rs 3,079 crore, whereas the distribution e book grew at a 34% CAGR since FY21, reaching Rs 40,544 crore as of September 2025.

Capital markets and housing finance shine

The capital markets enterprise posted a 24% YoY development in PAT to Rs 90 crore, pushed by wholesome deal exercise. In the meantime, the housing finance arm recorded a 27% YoY rise in PAT to Rs 34 crore, with disbursements up 48% to Rs 544 crore and AUM up 24% to Rs 5,236 crore, reflecting sturdy traction in reasonably priced housing loans.