IIFL Finance said that it has started special audit on 23 April 2024 directed by Reserve Bank of India (RBI) .
The said action follows s the RBIs embargo dated March 4, 2024 which suspended the disbursement of new gold loans by our company until the satisfactory completion of the said audit. This measure was part of RBIs supervisory action over concerns related to certain loan disbursement practices.The company said that it committed to extending full cooperation to the special audit team to ensure a comprehensive and thorough audit.
Recently, the company has received an approval from National Stock Exchange of India (NSE) to acquire 0.18% stakes in NSE for Rs 284.40 crore from FIH Mauritius Investments.
IIFL Finance, a leading retail-focused NBFC in India, offers loans and mortgages through its subsidiaries. With a wide range of products and a vast customer base, they operate across India through branches and digital channels.
The companys consolidated net profit surged 29.64% to Rs 490.44 crore on 25.64% increase in revenue from operations stood to Rs 2,694.36 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.15% to Rs 410.75 on the BSE.
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