IIFL Holdings sizzles on impressive Q2 results

IIFL Holdings is trading up on bourses by almost 9 per cent or Rs 25 per share, trading at Rs 310 per share. IIFL has declared its Q2FY17 results with its income shooting up by 16 per cent at Rs 666.8 crore. The total income for IIFL same period a year ago was Rs 574 crore.

The net profit for IIFL Holdings has risen 39 per cent to Rs 207.2 crore for the September quarter. The growth in profits delivered has been due to robust growth in retail lending. Apart from retail lending the major focus for the company has been its Wealth management and capital market businesses where it is seeing good growth. Wealth management business recorded a 29 per cent YoY growth in terms of assets under management. The NBFC operations of IIFL reflected a growth of 25 per cent. 

The stock has delivered almost 56 per cent over one year. Over one month the stock has returned 14 per cent. IIFL Holdings Limited is an Indian financial services company which is headquartered in Mumbai, India.