{"id":19054,"date":"2022-01-28T17:04:26","date_gmt":"2022-01-28T11:34:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-results-iifl-finance\/"},"modified":"2022-01-28T17:26:16","modified_gmt":"2022-01-28T11:56:16","slug":"biz-results-iifl-finance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-iifl-finance\/","title":{"rendered":"IIFL Finance Q3 Results: Net profit up 15%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2278839241\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Jan 28 (PTI) IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-896843085\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The company had logged a net profit of Rs 269 crore in the year-ago period.<\/p>\n<p>Total income during the period under review rose to Rs 1,071 crore from Rs 919 crore in the year-ago quarter.<\/p>\n<p>IIFL loan assets under management grew 11 per cent year-on-year driven by sustained growth in home loan and gold loan businesses, the company said in a release.<\/p><div class=\"trade-content_5\" id=\"trade-1728646572\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The non-banking financial company said it has a liquidity comfort at an all-time high at Rs 9,145 crore, which is adequate to meet not only all near-term liabilities but also to fund the growth momentum.<\/p>\n<p>&#8220;Our annualized ROE (return on equity) remained above 20 per cent and ROA (return on assets) above 2.5 per cent. With ongoing expansion, operating cost grew 9 per cent quarter-on-quarter,&#8221; it said.<\/p>\n<p>As of December 31, 2021, the AUM of the company stood at Rs 46,780 crore, with home loans segment constituting 35 per cent, gold loans 31 per cent, business loans 15 per cent and microfinance loans 11 per cent of the total AUM.<\/p>\n<p>The company said 94 per cent of its loans are retail in nature and 67 per cent of these loans (excluding gold) are PSL (priority sector lending) compliant.<\/p>\n<p>Gross NPA (non-performing assets) stood at 2.8 per cent and net NPA was at 1.5 per cent as on December 31, 2021.<\/p>\n<p>IIFL Finance also said it has appointed former SBI Chairman Arun Kumar Purwar as its chairman with effect from April 1, 2022.<\/p><div class=\"trade-content-10\" id=\"trade-523850739\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>This appointment was approved by the Board in a meeting on January 27, 2022.<\/p>\n<p>&#8220;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 and equivalent on our balance sheet is at all-time high.<\/p>\n<p>&#8220;The loan disbursals through new digital initiatives had great traction last quarter and we look forward to further acceleration in the year ahead,&#8221; Nirmal Jain, Chairman, IIFL Finance said.<\/p>\n<p>IIFL Finance stock closed 1.63 per cent higher at Rs 318.50 on BSE. PTI KPM  ANU ANU<\/p>\n<div class=\"trade-after-content\" id=\"trade-225208418\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 28 (PTI) IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses. The company had logged a net profit of Rs 269 crore in the year-ago period. Total income during the period under [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":19068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31,1789],"tags":[],"class_list":["post-19054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IIFL Finance Q3 Results: Net profit up 15% - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-iifl-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IIFL Finance Q3 Results: Net profit up 15%\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 28 (PTI) IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses. 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