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IIFL Securities spurts after Q4 PAT soars 107% YoY

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IIFL Securities jumped 4.01% to Rs 57.10 after the company reported 107.5% increase in consolidated net profit to Rs 77.31 crore in Q4 FY21 compared with Rs 37.25 crore in Q4 FY20.

Total income during the quarter increased 22.1% year-on-year (YoY) to Rs 256.29 crore. Profit before tax in Q4 FY21 was at Rs 91.58 crore, up by 79.7% from Rs 50.96 crore in Q4 FY20. Current tax expense declined 27.5% to Rs 10.26 crore in the fourth quarter.

The company reported 5.8% fall in consolidated net profit to Rs 220.33 crore on 2.7% decline in total income to Rs 867.78 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

Assets under management stood at Rs 43,755 crore as on 31 March 2021.

R. Venkataraman, managing director, commented on the financial results: "All our investment banking transactions were extremely well subscribed and witnessed very strong participation from high quality institutional, retail and HNI investors. Our deal pipeline for the coming quarters remain strong and robust."

IIFL Securities along with its subsidiaries offers advisory and broking services, financial products distribution, institutional research and investment banking services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, May 05 2021. 10:36 IST