IIFL Finance Q3 profit jumps 6x, declares Rs 4 interim dividend
IIFL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 16.4 pts less than Nifty Smallcap 250 and 16.2 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IIFL Finance reported consolidated Q3 net profit of Rs 501.35 crore versus Rs 81.71 crore in the same quarter last year. Nine month consolidated profit rose to Rs 1,193.46 crore from Rs 326.80 crore. Standalone Q3 profit was Rs 301.11 crore. The board declared an interim dividend of Rs 4 per share with January 29 as record date. CISO Sameer Gadve is stepping down and Kailash Gaonkar will take over from January 23. The Income Tax department has directed a special audit of accounts under section 142(2A), which the company says is procedural.
Sharp earnings growth is positive for sentiment. Interim dividend rewards shareholders. The Income Tax special audit is an overhang worth watching.