Motilal Oswal Financial Services has disclosed the results for the fourth quarter ended on March 31, 2009.

The company has witnessed 64% dip in its consolidated net profit for the fourth quarter ended March 31, 2009.

For the quarter under review, the company has posted a net profit of Rs 15.82 crore, as against Rs 44.21 crore in the corresponding year-ago quarter.

The sources close to the company said that company’s income from operations has witnessed a decline of Rs 84.02 crore as against Rs 179.38 crore.

On a standalone basis, the company has registered 23% growth in net profit although income from operations fell marginally. Net profit climbed to Rs 8.67 crore from Rs 7.04 crore in the same year-ago quarter.

While commenting on the occasion, Mr. Motilal Oswal, Chairman and Managing Director, of  Motilal Oswal Financial Services, said, “Our constant focus to rationalise costs and maintain our margins has delivered results.”

For the year ended March 31, 2009, company’s net profit has doubled to Rs 45.31 crore from Rs 17.29 crore.

In addition, the company’s total income increased two-fold to Rs 53.36 crore as against Rs 25.58 crore.

The consolidated net profit for the year ended March 31, 2009 dropped to Rs 89.6 crore from Rs 156.08 crore.