IIFL Finance Q2 result: Consolidated net profits up 32% YoY, income up 23%

IIFL Finance Limited standalone net profits fell by 38% Rs 136.7 crore, compared to Rs 220.47 last year

The net consolidated profits for IIFL Financial Limited went up by 32.35 per cent year on year (Y-o-Y) at the end of the second quarter of the ongoing financial year (Q2FY24), to Rs 525.52 crore from Rs 397.06 crore during the same period last year. 

Sequentially, net profit was up 11.13 per cent, from Rs 472.86 crore. 

Total consolidated income also went by 23.5 per cent to Rs 2,533.73 crore in Q2FY24, compared to Rs 2,051.43 crore reported during the same period last year. Compared to Q1FY24 there was a 6.87 per cent increase in income from Rs 2,370.70.

The consolidated revenue from operations also went by 22.17 per cent Y-o-Y at Rs 2,475.7 crore, compared to Rs 2,026.29 crore last year. On a quarterly basis, the rise was 7.6 per cent from Rs 2,299.78 crore.

On a standalone basis, the company's net profit fell 38 per cent Y-o-Y to Rs 136.7 crore in the September quarter from Rs 220.47 last year. Q-o-Q, the profits fell by 9.72 per cent from Rs 151.42 crore.

The total income of the non-banking financial company stood at Rs 1,080.53 crore, a marginal increase of 3.76 per cent compared with Rs 1,041.36 crore in the previous year.