Free Press Journal

IIFL Holdings Q2 Net rises 28 pc to Rs 140 cr

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Mumbai: Financial services major IIFL Holdings reported a 28 per cent increase in consolidated net profit at Rs 140.3 crore for the quarter ended September 30. The company’s profit after tax on consolidated basis stood at Rs 109.5 crore during July-September period 2014-15. IIFL Holdings recorded income of Rs 1,031.9 crore during the second quarter of the current financial year, 15 per cent more than the same period a year ago.

“During the quarter, the company on a consolidated basis reported a healthy 28 per cent year-on-year growth in post-tax profits despite a flattish capital market performance,” IIFL Holdings chairman Nirmal Jain said in a statement. “In our fund-based business, we are aggressively investing to enhance housing finance capacity, which will yield results over the next two-three years,” he added.

IIFL’s income from fund-based activities rose 18 per cent at Rs 766.2 crore, for the period under review. The company’s loan portfolio stood at Rs 15,472 crore as on September 30, 2015, a growth of 19 per cent from the period year-ago.


“The company’s loan book is predominantly retail and secured with adequate collaterals,” IIFL said. “The share of mortgage loan has increased to 51 per cent of the loan book in Q2FY16 from 48 per cent in Q1FY16, while share of gold loan has fallen to 18 per cent,” it noted.

During the September quarter, the income from financial products distribution segment was Rs 151.8 crore, up by 16 per cent from the same period in 2014-15. The company’s income from capital markets slipped marginally to Rs 110.8 crore in the second quarter of the current fiscal.