IIFL Q2 net jumps 39 pc to Rs 207.2 cr

Financial services firm IIFL Holdings today said its net profit rose 39 per cent to Rs 207.2 crore for the quarter ended September on robust growth in retail lending, among others.
IIFL had reported a profit of Rs 148.7 crore during the July-September quarter last fiscal.
The firm's income shot up by 16 per cent to Rs 666.8 crore in the second quarter of the current fiscal from Rs 574 crore in the same period year-ago, a company release said.
"Retail lending, the dominant business continues to witness robust growth and strategic focus is on progressive digital delivery of loans," IIFL chairman Nirmal Jain said.

"Wealth management and capital market businesses are on long term growth trajectory and focus is customer centricity," Jain added.
IIFL's wealth management business recorded a 29 per cent year-on-year growth in terms of asset under management. The total AUM, distribution and advice for the firm reached Rs 1,00,396 crore in the second quarter.

The company's NBFC operations saw Rs 102 crore worth of profits, up 25 per cent.
During the quarter, average daily equity market turnover for IIFL's capital market business increased by 29 per cent to Rs 9,023 crore.
During the same period, the exchanges' average daily equity market turnover was up 26 per cent year-on-year.

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