Motilal Oswal Financial Services receives SEBI warning for operational issues

Motilal Oswal Financial Services Ltd (MOFSL) received an administrative warning from the Securities and Exchange Board of India (SEBI) on July 2, 2024, for minor operational issues, as detailed in a letter dated June 28, 2024. SEBI's scrutiny was part of routine examinations of regulated entities, but MOFSL clarified that the warning does not affect its financial, operational, or business activities. Despite the warning, MOFSL reported a 334% YoY increase in its March quarter net profit to ₹724.6 crore, with revenue rising 108% YoY to ₹2,141.3 crore. The company's shares fell 4.19% to ₹566.85 on the BSE.