Motilal Oswal Financial Services reported a net loss of ₹63.2 crore in Q4 FY25, its first quarterly loss in 5 years, against a profit of ₹724 crore a year ago. The sharp fall was due to a ₹430 crore loss from fair value changes, compared to a ₹424 crore gain in Q4 FY24, as per stock exchange filings.