Q3FY22 Quarterly Result Announced for IIFL Finance Ltd.
Financial Services firm IIFL Finance declares Q3FY22 result: IIFL Finance Q3 profits at Rs 310 crores, up 15% YoY and 9M profit Rs 867 crores, up 69% YoY Profit growth momentum- 9MFY22 up 69% YoY; Q3FY22- up 15% YoY Net profit grew 69% YoY in 9MFY22 to Rs 867 Cr. The quarterly net profit was Rs 310 Cr, up 15% YoY and 6% QoQ Loan AUM grows to Rs 46,780 Cr, up 11% YoY and up 6% QoQ IIFL loan assets under management grew 11% YoY, driven by sustained growth in home loan and gold loan businesses. Liquidity comfort at all-time high at Rs 9,145 Cr As at December 2021, Free cash, equivalent and undrawn lines were Rs 9,145 Cr, adequate to meet not only all near term liabilities but also to fund the growth momentum Digital transformation gaining traction Branchless channel for Gold Loan and DIY MSME loans are getting significant traction. Disbursements of DIY loans grew four-fold QoQ whereas Gold Loan @ home grew 31% QoQ. Maintaining ROE above 20% p.a., whilst funding growth Our annualized ROE remained above 20% and ROA above 2.5%. With ongoing expansion, operating cost grew 9% QoQ Mr Nirmal Jain, Chairman, IIFL Finance Ltd., commented on the financial results: “We continue to invest in capacity expansion through digital initiatives, partnership, new branches and channels for growth in the core businesses. Our liquidity situation has improved considerably and cash & equivalent on our balance sheet is at all- time high. The loan disbursals through new digital initiatives had great traction last quarter and we look forward to further acceleration in the year ahead. We are pleased to report sustained profit growth and ROE above 20% p.a.” Result PDF28-01-2022