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FY20 will be a better year for earnings growth, says Motilal Oswal Financial Services

Updated : January 17, 2019 11:34 AM IST

It was a tough third quarter for Motilal Oswal Financial Services with stress seen in most verticals. Only the asset management business showed some promise.

The consolidated year-on-year (YoY) net profit for the third quarter was down 84 percent at Rs 40 crore versus Rs 248.3 crore. The YoY consolidated revenues too were down 20 percent at Rs 647.6 crore versus Rs 810.1 crore.

Throwing more light on the Q3 performance and outlook going forward, Raamdeo Agrawal, co-founder, Motilal Oswal Financial Services, in an interview with CNBC-TV18, said operationally, incremental NPAs won’t have legacy issues in the home finance book.

"The next quarter would be subdued for home finance business but FY20 should be reasonably good," said Agrawal.

With regards to investment banking segment, he said it saw a decline in Q3 due to shutdown of capital market.

On the overall earnings front, he said it looks like 2019-20 should be better for earnings growth because inflation is down and capex cycle is picking up. "Expect the monetary policy to be loose," he said.
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