IIFL Holdings surges on strong Q3 results

The stock surged 12% to Rs 316 on the BSE in intra-day trade

IIFL Holdings surged 12% to Rs 316 on the BSE in intra-day trade after the company reported a strong 62% year on year (YoY) jump in consolidated net profit at Rs 222 crore for the quarter ended December 2016 (Q3FY17). Consolidated income grew 34% at Rs 746 crore on YoY basis.

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