IL&FS Investment Managers Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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The board approved unaudited consolidated results for Q2/H1 FY26 (ended Sept 30, 2025) and unaudited standalone & consolidated results for Q3/9M FY26 (ended Dec 31, 2025). Consolidated Q2 FY26 total revenue rose to Rs 1,103.29 lakhs (vs Rs 865.39 lakhs in Q2 FY25) and profit after tax jumped to Rs 344.06 lakhs (vs Rs 146.84 lakhs); H1 FY26 PAT swung to a profit of Rs 367.07 lakhs from a loss of Rs 225.17 lakhs in H1 FY25. Standalone performance was volatile, propped up by a one-time Rs 2,873.25 lakhs dividend in Q2, while Q3 FY26 standalone slipped to a Rs 159.34 lakh loss on near-zero operating revenue. The board also appointed Ms. Jayashree Ramaswamy (Group CFO of IL&FS) as an Additional Nominee Director, nominated by the holding company IL&FS. Operating cash flow remained negative at Rs (150.37) lakhs in H1 FY26, though cash balances improved to Rs 3,155.26 lakhs from Rs 902.01 lakhs.
Investors should weigh strong headline PAT growth against the auditor's 'qualified conclusion' and explicit 'going concern' emphasis, driven by shrinking fee income as existing funds near expiry and the absence of new fund raises. The holding company IL&FS is also actively exploring a sale of its stake via a public EOI process, which could materially reshape ownership. Near-term stock sentiment may remain weak despite the improved quarterly numbers.