IIFL Holdings Q3 Net rises 13% at Rs 127 cr

IIFL Holdings today reported a rise of 13 per cent in its consolidated net profit at Rs 126.7 crore for the third quarter ended December.
Its net profit in the corresponding quarter of 2014-15 stood at Rs 112.34 crore.
Total income rose to Rs 994.04 crore for the stated quarter from Rs 872.82 crore in the year-ago period, the company said in a BSE filing.
While, on standalone basis, IIFL Holdings registered a multi-fold jump in its net profit at Rs 80.45 crore during the October-December period of 2015-16, as against Rs 1.21 crore profit in the same period a year ago.

"Total income (standalone) has increased to Rs 83.53 crore for the quarter from Rs 2.69 crore for the same period a year earlier," the statement said.
The company also declared an interim dividend of Rs 4.25 per share, including a special dividend of Rs 1.25 per share, to commemorate a decade of listing, it added.

"The special dividend is a token of appreciation to all shareholders for their support and well wishes during the journey that has transformed IIFL from primarily a retail broking entity to a diversified financial services company," the company said.
IIFL Holdings Chairman Nirmal Jain said: "We achieved robust growth in our fund based and financial products distribution businesses, while capital market activities declined due to adverse market conditions."

"In our fund-based business, we continue to re-balance our portfolio towards superior asset quality by reducing exposure to gold loans and corporate mortgages, and growing retail mortgages and CV loans. This is expected to enhance our risk adjusted returns over the next one-two years," he added.
Shares of IIFL Holdings closed 0.43 per cent up at Rs 207.95 apiece on the BSE.