IIFL net jumps 25% to Rs 229 cr in Q2 FY'18

IIFL Holdings today reported a 25 per cent rise in consolidated net profit at 229.1 crore for quarter-ended September 30, this fiscal.
The company's net profit stood at Rs 183.1 crore, during July-September quarter of 2016-17.
IIFL's income surged nearly 42 per cent to Rs 944.4 crore in the second quarter of 2017-18 from Rs 666.4 crore in the same period year-ago.
"We are pleased to report continued robust growth in all our core businesses. Our performance reinforces our confidence in our strategy to make earnings durable and de-risked," IIFL Holdings chairman Nirmal Jain said in a statement.
"Our loans and mortgages business strategy of focusing on retail lending and digital delivery, makes it largely immune from banks' competition. Wealth and asset management continues to grow on the back of innovative products with customer centricity," he added.

The company's total assets under management, distribution and advice saw 47 per cent year-on-year growth to reach Rs 1.33 lakh crore in the September quarter, this fiscal.
Loan assets under management, predominantly retail, showed a steady growth of 27 per cent year-on-year to Rs 26,033 crore, for period under review, the company said.
IIFL is engaged in the business of loans and mortgages, asset and wealth management, capital markets and financial products distribution, investment banking, institutional equities and realty services through its various subsidiaries.