IIFL Q3 consolidated profit up 67 pc at Rs 112 cr

Financial services company India Infoline (IIFL) today reported a 67 per cent jump in its consolidated net profit at Rs 112 crore in the quarter ended December, 2014.
The company had reported a profit after tax of Rs 67 crore in the year-ago period.
Its consolidated income rose 34 per cent to Rs 924 crore as against Rs 689 crore in the same period last year.
"We are witnessing a positive momentum in all segments of our business. We are optimistic about the prospects of our business over the next five years," IIFL chairman Nirmal Jain said in a release here.

Segment wise, company's income from fund based activities grew 33.6 per cent to Rs 680 crore in the period.
The loan book, mainly retail, stood at Rs 13,795 crore, up 37.4 per cent on year.

Consolidated gross non performing assets stood at 1.11 per cent as against 0.83 per cent, while net NPAs stood at 0.41 per cent as against 0.39 per cent at the end of the quarter.
Fresh slippages in the quarter stood at Rs 28 crore.
The company made a provision of Rs 44 crore for standard assets and Rs 96 crore for non-standard assets during the quarter.

Net Interest Margin for the quarter stood was 7.6 per cent and the company expects margins to be in 7- 7.7 per cent range.
Income from financial products distribution space grew 48 per cent to Rs 143.5 crore from Rs 97 crore in the year-ago period. Capital market income rose 21.2 per cent Rs 98.8 crore.