IIFL Q2 profit up marginally at Rs 66 cr

Company reported PAT of Rs 65.8 crore in the July-September quarter of 2012-13 fiscal

IIFL today said its profit after tax for the second quarter ended September 30 of the 2013-14 fiscal rose by a marginal 0.8% at Rs 66.4 crore.

The India Infoline group company had reported PAT of Rs 65.8 crore in the July-September quarter of 2012-13 fiscal.

The total income of the company in Q2, 2013-14 increased by 4.6% to Rs 683.5 crore, from Rs 653.2 crore in the year-ago period.

"We...Report positive growth, quarter-over-quarter as well as year-over-year, despite significant head winds from adverse capital market conditions and high interest cost," IIFL Chairman Nirmal Jain said in a statement.

"Our financing business has emerged as the key driver and is delivering a steady growth, whereas capital market related business has contracted considerably," he added.

IIFL is a financial services provider that offers advice and execution platform covering products such as equities and derivatives, commodities and wealth management.