Otra Securities’ Profit for ’91 Declines by 42%

Otra Securities Group Inc., a Glendale-based securities clearing and brokerage concern, said its 1991 profit fell 42% from the previous year despite a 13% increase in revenue.

In the year ended Dec. 31, Otra’s net income fell to $912,000 from $1.56 million the previous year, and its annual revenue climbed to $14.2 million from $12.6 million.

Otra said the higher revenue reflected the opening of its brokerage unit and higher trading profits. But its profit fell because of lower account-maintenance fees and increases in certain operating costs.