Finance stocks saw a notable rise, driven by stronger-than-expected Q2 results across the sector. The impressive performance highlights the resilience of financial services companies amid evolving market conditions, with several players reporting robust growth in revenue and profits.
Two stocks from the financial sector which reported better Q2 results are:
Share price variations:
With a market capitalization of Rs. 12,046.40 crores, IIFL Securities Ltd. rose to an intraday high of Rs. 404.85 representing an 8.3 percent increase from its previous closing price of Rs. 373.80 per share.
Reason for the Rise:
According to exchange filings, IIFL Securities Ltd reported a 91 percent year-on-year increase in net profit for Q2 FY25, reaching Rs 205.3 crore, up from Rs 107.6 crore in Q2 FY24. On a quarter-on-quarter basis, net profit surged by 13 percent, rising from Rs. 182.28 crore in Q1 FY25.
Revenue from operations grew by 32 percent year-on-year to Rs. 703.7 crore, compared to Rs. 533.66 crore in the same period last year. Sequentially, revenue increased by 9 percent from Rs. 643.80 crore in Q1 FY25.
For the first half of FY25, revenue rose by 43 percent to Rs. 1,347.50 crores, up from Rs. 944.65 crores in H1 FY24, while net profit showed an increase of 113 percent, reaching Rs. 387.62 crores compared to Rs. 182.26 crores in the previous year.
Total brokerage revenue was up 17 percent to Rs. 317.6 crores and investment banking revenue was up by 35 percent to Rs. 51.4 percent while financial products revenue was up by 25 percent to Rs. 106.2 crores.
About the company:
Incorporated in 1996 as a broking arm of the IIFL Group, IIFL Securities Limited provides retail and institutional equities, financial products distribution, commodity broking, currency broking, investment banking, financial planning, and wealth management services to retail and institutional customers across India.
Can Fin Homes Limited:
Share price variations:
With a market capitalization of Rs. 11,656.31 crores, Can Fin Homes Limited. rose to an intraday high of Rs. 897.95 representing a 7.24 percent increase from its previous closing price of Rs. 832.90 per share.
Reason for the Rise:
According to exchange filings, Can Fin Homes Limited reported a 33.79 percent year-on-year increase in net profit for Q2 FY25, reaching Rs 211.48 crore, up from Rs 158.07 crore in Q2 FY24. On a quarter-on-quarter basis, net profit surged by 5.93 percent, rising from Rs. 199.64 crore in Q1 FY25.
Revenue from operations grew by 10.52 percent year-on-year to Rs. 962.69 crore, compared to Rs. 871.03 crore in the same period last year. Sequentially, revenue increased by 3.39 percent from Rs. 931.12 crore in Q1 FY25.
For the first half of FY25, revenue rose by 11.72 percent to Rs. 1893.82 crores, up from Rs. 1695.12 crores in H1 FY24, while net profit showed an increase of 20.37 percent, reaching Rs. 411.13 crores compared to Rs. 341.52 crores in the previous year.
Gross NPA is down at 0.88 percent from 0.76 percent in the June quarter and net interest income is at Rs 340 crores up 6.7 percent from Rs. 317 crores on a year-on-year basis.
About the company:
Can Fin Homes Ltd. is a deposit-taking housing finance company registered with the National Housing Bank. It primarily provides relatively smaller ticket-sized housing loans to salaried & professional and self-employed non-professional (SENP) borrowers.
As of Q2 FY25, approximately 77 percent of the company’s AUM is allocated to housing, 10 percent to housing CRE, 6 percent to LAP and mortgage, 2 percent to top-up loans, and 5 percent to other segments.
Written By : Joseph Pv
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