IIFL Wealth & Asset Management Q2 PAT rise 23% to Rs 173 cr; revenue up 12%

IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022.

The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement.

The company's total revenue rose 12 per cent to Rs 405 crore in the second quarter of 2022-23, from Rs 362 crore in the same quarter of preceding fiscal.

The company's board declared the third interim dividend of Rs 17 per share.

"In the near term, we are cognizant of the global volatility which can provide both challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach," the company's MD and CEO Karan Bhagat said.

He, further, said that people and technology remain the company's key investment themes. It would continue to add new talent and deep expertise to the organization.