Shares of this Brokerage company under the ‘small-cap’ category gained around xx percent in Wednesday’s trading session after the company released its financial reports for the quarter ended September 2023, i.e., Q2FY23-24. In the past month, the company’s shares have gained close to 40 percent.
With a market capitalization of Rs 3,333.39 crores, the stocks of IIFL Securities Limited opened their trading hour on Wednesday at Rs 98.28 and currently trades at Rs 109, soaring a huge 16 percent as compared to the previous closing levels of Rs 94.04 apiece.
Such bullish sentiments around the company’s stocks were observed after it published the financial results for the latest quarter, i,e., for the quarter ended September 2023.
Having a glance at the consolidated financials reported, the company, on a QoQ basis, has posted an increase in both the prime indicators of business comprising of the operating revenues as well as after-tax profits.
The operating revenues of the company grew from Rs 409 crores during Q1FY23-24 to Rs 507 crores during Q2FY23-24, and, the after-tax profit numbers, keeping the timeframe the same, have grown from Rs 75 crores to Rs 108 crores.
In congruence with the pattern, the annual movements in the metrics mentioned above showed decent growth with the operating revenues moving up from Rs 317 crores during Q2FY22-23 to Rs 507 crores during Q2FY23-24, and, the after-tax profits shifting from Rs 55 crores to Rs 108 crores exhibiting a gain of approximately 96 percent.
As per the shareholding data available for the latest quarter, the company’s Promoters hold a 31.13 percent stake, and the Foreign Institutional Investors (FIIs) hold a considerable stake of 16.33 percent in the company.
Incorporated in 1996, IIFL Securities Limited is engaged in the business of providing capital market services in the primary as well as secondary markets in India. The company offers retail broking products, mutual funds & bonds, portfolio management, and other various broking services.
Written by Amit Madnani
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