Total income of the city-based financial services company grew 15% to Rs 1,031.9 crore during the reported period.
IIFL Holdings, the listed entity of the IIFL group, on Saturday reported a 28% increase in consolidated net profit of Rs 140.3 crore for the September quarter on better asset quality and overall growth in revenue.
Total income of the city-based financial services company grew 15% to Rs 1,031.9 crore during the reported period.
Gross NPAs and net NPAs have fallen to 1.4% and 0.5%, respectively, from 1.6% and 0.8% in the previous quarter. Its NPA provisions came down from Rs 219.3 crore to Rs 140.2 crore during the period under review.
The company said its fund-based business grew 18% to Rs 766.2 crore, while financial products distribution arm clipped at 16% to Rs 151.8 crore, capital market activities was flat at Rs 110.8 crore and other income clipped at 82% to Rs 3.1 crore.
Group Chairman Nirmal Jain said the overall the business has been growing at a healthy pace with consolidated net income rising 28% despite a flattish capital market performance.
"In our fund based business, we are aggressively investing to enhance housing finance capacity, which will yield results over the next two-three years," Jain said.
He said, the NBFC business, predominantly retail and secured loans grew to Rs 15,472 crore, up 19%, while the mortgage loan book has increased to 51% of the loan book in Q2 from 48% in Q1. The share of gold loan has fallen to 18% this quarter from 24% in the previous quarter.
However, the capital market income or brokerage business revenue was down by 1% to Rs 110.8 crore an yearly basis, but up 4% sequentially.
The average daily equity total turnover was at Rs 7,007 crore in Q2, down 4% year-on-year (YoY) and 9% quarter-on-quarter (QoQ), while exchange turnover was down 9% YoY and up 2% QoQ, the company said in a statement.
On Friday, the stock of the company closed up 2.12% at Rs 206.95.
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