The company’s NBFC operations, which account nearly half of the total business, recorded 25% YoY growth in net profit at Rs 112 crore. NIM (net interest margin) has improved to 6.4% on the back of superior asset mix at lower yield, decline in funding costs and infusion of equity capital.
Gross non-performing assets (NPAs) and Net NPA ratios have fallen to 1.80% and 0.65% respectively as on December 31, 2016 versus 1.87% and 0.83% in the previous quarter, IIFL Holdings said in a release.
“We are happy to report accelerated profit growth on y-o-y basis, on the back of continued strong performance of our NBFC and Wealth businesses and tailwinds in Capital Market business. We look forward to growth and reform oriented budget and policy changes to give impetus to economic activity and thereby financial services sector,” said Nirmal Jain, Chairman, IIFL Holdings.
The company’s board declared an interim dividend of Rs 4.50 per equity share for 2016-17.
At 09:56 am; the stock was up 9.5% at Rs 310 on the BSE, as compared to 0.61% rise in the S&P BSE Sensex. A combined 605,000 shares changed hands on the counter on the BSE and NSE so far.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in