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The income from the financing segment was up over 66% for FY13 over FY12, rising from Rs1090.45 crore to Rs1816.69 crore, according to a company release on Saturday.
Meanwhile, equities, broking and related income rose little over 1% in the same period, from Rs545.76 crore to Rs552.53 crore as commodity volumes rose.
The financing subsidiary is a key area of focus according to Nirmal Jain, Chairman, IIFL.
“….Over the years, the business model has been de-risked and is no longer dependent on cyclical capital markets. The financing business, the key driver of steady and sustainable growth, is on strong foundation, as evident in asset quality and diversified product mix,”he said in a press release.
The net profit for IIFL was at Rs80.98 crore for the March quarter, up 10.7% over the previous quarter on the back of higher financing income.
Figure are for net profit after tax and minority interest.
The income for the financing and investment segment was up from Rs469.6 crore in the December quarter to Rs480.9 crore in March, according to company financials. Equities, broking and related income was up from Rs143.45 crore to Rs150.06 crore.
