Shares of financial services firm IIFL Holdings today surged nearly 8 per cent after the company reported 33 per cent rise in net profit for the quarter ending June 2016.
The scrip jumped 7.61 per cent to settle at Rs 269.25 on BSE. During the day, it soared 9.91 per cent to Rs 275 -- its 52-week high.
At NSE, shares of the company advanced by 7.21 per cent to close at Rs 267.65.
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IIFL Holdings today reported 33 per cent rise in net profit to Rs 158.1 crore for the quarter ended June 30, on account of robust growth in NBFC and wealth businesses.
The company's net profit had stood at Rs 118.9 crore during April-June period of previous fiscal.
IIFL's income rose 13.5 per cent to Rs 1,030.5 crore on year-on-year basis.
"Our NBFC and wealth businesses have delivered robust growth. We continue to re-balance our loan portfolio with focus on retail home loans and SME financing," IIFL Holdings chairman Nirmal Jain said in a statement.
IIFL Holdings is engaged in the business of financing, asset and wealth management, capital markets, financial products distribution, investment banking, institutional equities, and project financing and advisory services through its various subsidiaries.
