Motilal Oswal Q1 FY27 Results: PAT At ₹1,273 Crore, Stock Drops Over 7% In Early Trade

Motilal Oswal Financial Services reported a consolidated net profit of ₹1,273 crore, up nearly 10% year-on-year (YoY), in the June quarter. Revenue from operations rose over 25% to ₹3,426 crore, while total expenses climbed 42%. Despite this, the company’s shares tumbled in early trade.

Motilal Oswal Q1 FY27 Key Highlights

• Net Profit: ₹1,273 crore, up nearly 10% YoY

• Revenue From Operations: ₹3,426 crore, up over 25% YoY

• Total Expenses: ₹1,898 crore, up around 42% YoY

• Operating Profit After Tax (PAT): ₹1,513 crore, up 14% YoY

• Asset Management Profit: ₹245 crore, up 73% YoY

• Total Assets Under Management (AUM): ₹2.12 lakh crore, up 31% YoY

• Private Wealth Annual Recurring Revenue (ARR): ₹157 crore, up 42% YoY

• Private Wealth AUM: Up 37% YoY

What Drove Motilal Oswal's Q1 FY27 Performance?

The company’s robust performance was supported by strong growth in its asset management and wealth management businesses. The broader wealth management franchise continued to benefit from higher annuity income.

The annual recurring revenue increased 26% YoY to ₹304 crore, while the loan book expanded 33% to ₹7,388 crore. Despite the rise in income, total expenses climbed around 42% YoY to ₹1,898 crore.

Management Commentary And Market Reaction

The company said it has delivered a 33% compound annual growth rate (CAGR) in operating profit after tax, 28% CAGR in earnings per share and an average return on equity of 23% over the past ten years. It added that this growth has been achieved through internal accruals without equity dilution, while completing three share buybacks and maintaining consistent dividend payouts.

Motilal Oswal also said its net worth has grown at a 28% CAGR over the past six years through internal accruals. Separately, the company said CRISIL upgraded its long-term credit rating to AA+ with a Stable outlook.

According to the company, the upgrade reflects the strength of its franchise and business model. It added that annuity revenues now contribute 66% of total revenue, improving the quality and predictability of earnings.

Motilal Oswal Financial Services shares fell more than 7% in early trade on Friday to ₹872 after the company announced its Q1 FY27 results. At 3:29 PM, the company’s shares were down 7.15% on the National Stock Exchange (NSE). Before the results, the stock had declined over 2% in the past week but gained more than 1% over one month to close at ₹940 on Thursday.

The stock has risen over 12% so far in 2026. Over the longer term, it has delivered returns of 4% in one year, 409% in three years and 258% over five years.

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