IIFL Holdings sparkles on outstanding results
DSIJ Intelligence / 27 Jan 2017
The stock of IIFL Holdings has jumped on the bourses, notching up impressive gains of 11.44 per cent in early trades on the back of outstanding Q3FY17 results.
The stock of IIFL Holdings has jumped on the bourses, notching up impressive gains of 11.44 per cent in early trades on the back of outstanding Q3FY17 results.
IIFL Holdings’ topline increased 34 per cent to Rs 746 crore in Q3FY17 as compared to the same period in the previous financial year. The company’s net profit also soared 64 per cent to Rs 222 crore in Q3FY17 on a yearly basis.
On nine-month financial front, IIFL’s revenue increased 22 per cent to Rs 1989 crore in 9MFY17 as compared to the same period in previous financial year. The company’s net profit rose 45 per cent to Rs 588 crore in 9MFY17 on a yearly basis.
On the asset quality front, IIFL’s gross NPAs and net NPA ratios have fallen to 1.80 per cent and 0.65 per cent, respectively, in Q3FY17 versus 1.87 per cent and 0.83 per cent in the previous quarter.On the products portfolio front, IIFL has earned 28 per cent from loans against property, 24 per cent from home loans, 14 per cent from gold loans, 13 per cent from commercial vehicle finance, 10 per cent from construction and real estate finance, 7 per cent from capital market finance and remaining 4 per cent from MSME loans in Q3FY17.
After spiking up by over 11 per cent in the morning session, the IIFL scrip is trading at Rs 309.6 on an intra-day basis.
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