India Infoline (IIFL) has soared 14% at Rs 65.10 after reporting an healthy 62% quarter-on-quarter (q-o-q) growth in consolidated net profit at Rs 35.81 crore for the third quarter ended December 2011, compared with Rs 22.07 crore in September quarter. Income from operations grew 17% at Rs 480 crore on q-o-q basis.
“The operating environment for all our businesses is likely to improve in 2012,”said Nirmal Jain, chairman, IIFL, commenting on the financial results of Q3FY12.
“On a q-o-q basis, the company has been able to improve our performance significantly despite continued sluggishness in equities trading volumes. Our growth has been driven by distribution of financial products like insurance and growth in retail loan book,” added Jain.
As many as 450,266 shares have changed hands on the counter so far, against an average less than 200,000 shares that were traded daily in past two weeks on the NSE and BSE.