Motilal Oswal Financial Services LimitedQ2 FY27 Results & Financial Update
Motilal Oswal Financial Services Limited: Q2 FY27 consolidated results and company financials – revenue ₹3,043.76 Cr, PAT ₹1,081.36 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Motilal Oswal Financial Services Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Motilal Oswal Financial Services Limited posted consolidated total income of INR 3,043.76 crore for the quarter ended September 30, 2026 (Q2 FY27), reflecting a contraction compared to the preceding quarter (Q1 FY27) where total income stood at INR 3,432.23 crore.
Profit before tax (PBT) for the quarter came in at INR 1,332.67 crore, showing a sequential moderation from INR 1,533.84 crore reported in the June 2026 quarter.
Consolidated profit after tax (PAT) for Q2 FY27 stood at INR 1,081.36 crore, compared to INR 1,273.70 crore in the previous quarter, yielding a sequential PAT decline of approximately 15.10% alongside a compression in PAT margin from 37.11% to 35.53%.
Basic earnings per share (EPS) for the current quarter moved to INR 17.94, compared to INR 20.77 recorded in the immediate preceding quarter.
Interest income component within the revenue structure demonstrated resilience during the quarter, increasing sequentially to INR 831.26 crore from INR 746.01 crore in Q1 FY27.
Other income experienced a sharp sequential reduction, coming down to INR 0.21 crore from INR 6.47 crore in the preceding quarter.
Depreciation and amortisation expenses for Q2 FY27 edged up slightly to INR 29.65 crore compared to INR 27.89 crore in the previous quarter, while tax expenses stood at INR 251.31 crore.
01 · Business model
What does Motilal Oswal Financial Services do?
Motilal Oswal Financial Services Limited operates as a diversified financial services enterprise in India, delivering a broad spectrum of wealth-management, broking, distribution, asset management, private equity, and lending solutions.
The group generates its revenue streams primarily through fee-based advisory and brokerage operations, asset management fees across mutual funds and alternative investment funds, investment banking, and interest income generated from its financing and lending book.
Serving retail investors, high-net-worth individuals, institutional clients, and corporate accounts, the company combines digital distribution channels with a widespread physical branch and advisor network.
The underlying business model relies significantly on capital markets activity, asset valuations, transactional volumes across equities and derivatives, and net interest margins on its financing portfolio.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹3,043.76 Cr | ₹3,432.23 Cr |
| Total income | ₹3,043.76 Cr | ₹3,432.23 Cr |
| Profit before tax | ₹1,332.67 Cr | ₹1,533.84 Cr |
| Profit after tax | ₹1,081.36 Cr | ₹1,273.70 Cr |
| EPS | ₹17.94 | ₹20.77 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 35.5% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 43.8% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Interest income grew sequentially to INR 831.26 crore in Q2 FY27 from INR 746.01 crore in Q1 FY27, pointing to growth or repricing within the lending and financing book.
Other income dropped significantly to INR 0.21 crore during the quarter compared to INR 6.47 crore in the preceding quarter.
What drove margins
The consolidated profit after tax margin stood at 35.53% for Q2 FY27, reflecting a contraction of approximately 158 basis points compared to 37.11% in Q1 FY27.
Depreciation and amortisation stood at INR 29.65 crore, while tax expense was recorded at INR 251.31 crore against a PBT of INR 1,332.67 crore.
04 · Reported developments
What changed operationally
Interest income expanded by 11.43% quarter-on-quarter to reach INR 831.26 crore.
05 · Pressure points & risks
What is not going smoothly
Total income declined by 11.32% and PAT contracted by 15.10% compared to the previous quarter.
06 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions amounting to INR 135.10 crore during the quarter ended September 30, 2026.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Quarterly Financial Reporting
The consolidated financial results for Q2 FY27 were prepared in accordance with applicable accounting standards and filed via official exchange disclosures.
08 · Previous-quarter changes
What changed since the previous quarter
Compared to Q1 FY27 total income of INR 3,432.23 crore and PAT of INR 1,273.70 crore, Q2 FY27 registered lower top-line and bottom-line figures.
09 · Key Q&A
The quarter, answered directly
What does Motilal Oswal Financial Services do?
Motilal Oswal Financial Services Limited operates as a diversified financial services enterprise in India, delivering a broad spectrum of wealth-management, broking, distribution, asset management, private equity, and lending solutions.
What is the clearest takeaway from Q2 FY27?
Motilal Oswal Financial Services Limited posted consolidated total income of INR 3,043.76 crore for the quarter ended September 30, 2026 (Q2 FY27), reflecting a contraction compared to the preceding quarter (Q1 FY27) where total income stood at INR 3,432.23 crore.
What drove revenue or demand?
Interest income grew sequentially to INR 831.26 crore in Q2 FY27 from INR 746.01 crore in Q1 FY27, pointing to growth or repricing within the lending and financing book.
What mattered most for margins or profitability?
The consolidated profit after tax margin stood at 35.53% for Q2 FY27, reflecting a contraction of approximately 158 basis points compared to 37.11% in Q1 FY27.
What changed operationally beyond the headline numbers?
The consolidated financial results for Q2 FY27 were prepared in accordance with applicable accounting standards and filed via official exchange disclosures.
What are the main pressure points disclosed for the quarter?
Total income declined by 11.32% and PAT contracted by 15.10% compared to the previous quarter.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsequent Quarter Earnings: Monitor upcoming quarterly financial filings to track trends in interest income, fee-based revenues, and overall margin trajectory.
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