IIFL Holdings Q1 net jumps 44% to Rs 198 cr

Financial services firm IIFL Holdings today reported a 44 per cent rise in net profit at Rs 198.1 crore for the quarter ended June 30.

The company's net profit stood at Rs 137.5 crore during April-June period of the previous fiscal.

Total revenue also grew 43.46 per cent to Rs 1,478.46 crore as against Rs 1,030.54 crore in the corresponding quarter a year ago.

"In the first quarter of current financial year, all our businesses have grown well. Successful implementation of major reforms has buoyed the confidence of investors, foreign and domestic alike...We look forward to the rest of year with a renewed optimism," IIFL Holdings Chairman Nirmal Jain said in a statement.

IIFL Holdings is engaged in the businesses of financing, asset and wealth management, capital markets, financial products distribution, investment banking, institutional equities and project financing and advisory services through its various subsidiaries.