IIFL FINANCE LIMITED Press Release
For immediate publication
Mumbai, India
October 21, 2014
IIFL Consolidated Q2FY15 Net Profit at `109.5Cr, up 65% yoy; Income at `893.9 Cr, up 31% yoy Consolidated income for the quarter at `893.9 Cr up 31% yoy and up 13% qoq
Consolidated profit after tax at `109.5 Cr, up 65% yoy and up 17% qoq
Quarter witnessed strong uptrend in financial products distribution and steady growth in fund based activities
Summary consolidated financials` Crores | Quarter ended Sep 30, 2014 | Quarter ended Sep 30, 2013 | % Year-on- Year | Quarter ended Jun 30, 2014 | % Quarter- on- Quarter |
Income | 893.9 | 683.5 | 30.8% | 791.3 | 13.0% |
Profit Before Tax | 173.8 | 101.0 | 72.1% | 144.5 | 20.3% |
Profit After Tax | 109.5 | 66.4 | 64.9% | 93.8 | 16.7% |
Segmental Profit Before Tax (` Crores) | Quarter ended Sep 30, 2014 | Quarter ended Sep 30, 2013 | % Year-on- Year | Quarter ended Jun 30, 2014 | % Quarter- on- Quarter |
Fund Based Activities | 111.8 | 75.4 | 48.2% | 99.6 | 12.2% |
Financial Products Distribution | 24.2 | 11.2 | 114.8% | 9.6 | 152.5% |
Capital Market Activities | 37.8 | 14.0 | 170.3% | 35.0 | 8.0% |
Others | 0.1 | 0.3 | (62.8%) | 0.4 | (66.6%) |
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Mr Nirmal Jain, Chairman, IIFL, commented on the financial results, "We are pleased to report an all round robust growth in our operations. We expect economic reforms to gather momentum, further boosting the investor sentiment. We believe that the outlook for our core business has improved significantly." Fund based activitiesIn Q2FY15, our income from this segment was `649.2 Cr, up 28.1% yoy and up 11.3% qoq, PBT was
`111.8 Cr, up 48.2% yoy and up 12.2% qoq.
Our loan book is predominantly retail and entirely secured with adequate collaterals. The loan portfolio stood at `12,993 Cr as on September 30, 2014 which registered a growth of 31% year on year. The portfolio comprises mortgages, property loans, capital market products, gold loans, commercial vehicle loans and medical equipment financing.
Superior asset quality: We continue to maintain high quality of assets. This is evident in low levels of
NPAs. Our Gross NPAs and Net NPAs stood at 0.97% and 0.30% respectively as on September 30,
2014. Against gross NPA of `125 Cr we have non standard asset provision of `86 Cr and hence our net NPA stands at 0.30%. Besides this, we have a provision of `38 Cr, for standard assets, as per statutory requirement.
In Q2FY15, our income from this segment was `131.3 Cr, up 48.9% yoy and up 32.3% qoq, PBT was
`24.2 Cr, up 114.8% yoy and up 152.5% qoq. Total assets under advice, distribution and management were `48,000 Cr, besides, `26,000 Cr of assets under custody arrangement.
Capital market income was `111.7 Cr in Q2FY15, up 30.6% yoy and 4.1% qoq. This segment has witnessed substantial growth from March 2014 onwards. IIFL's average daily equities turnover was at
`7,278 Cr in Q2FY15 up 20% qoq. Our investment banking completed a QIP of `750 Cr for Info Edge,
which received an overwhelming response.
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Appointment of Independent Director
IIFL Holdings appointed Ms Geeta Mathur as an Independent director following a board meeting in September, 2014. She started her career with ICICI Bank where she worked for over 10 years in the field of corporate and structured finance as well as represented ICICI on the Board of reputed companies. She has also worked with IBM and Emaar MGF in areas of Corporate Finance, Treasury, Risk Management and Investor relations. She is currently CFO of Helpage India, one of the largest and oldest NGO in India working for the cause of the elderly.
IIFL Private Wealth has been recognized as the 'Best Wealth Manager - India' for the fourth consecutive year, as well as, 'Best Wealth Management Specialist - Asia' (being the only Indian origin Private bank to win a Regional Award) at The Asset Triple A Private Banking, Wealth Management and Investment Awards 2014. These awards recognize the best financial advisors across countries and regions on the basis of their growth and management practices. It acknowledges their contribution towards creating, preserving and generating wealth for HNI / UHNI Clients in their respective categories.
IIFL has been recognized as India's Most Promising Brand 2013-14 by World Consulting and Research Corporation (WCRC) under the category of Integrated Financial Services. IIFL received the award from
Lord Swaraj Paul, leading NRI industrialist.
IIFL tied up with BMC for Financial literacy (FIN LITES) of students in all BMC schools. FIN LITES is a non-linear learning programme on day to day money management concepts enumerated in an easy to grasp format and style. IIFL has also partnered with BMC for FLAME (Financial Literacy Agenda for Mass Empowerment) for Mumbai slum women and with Adidas Ashram Shala for tribal kids.
Other initiatives include supporting malnutrition identification and care activities in Melghat region, providing vehicle to NGO for delivering Mid day meals to school children in Mumbai, supporting program on awareness on livelihood opportunities for 2000 school kids, health camp at Pandharpur, Supporting & participating in training 500 women in Entrepreneurship and facilitating creation of
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sustainable micro enterprises, co-certifying Vocational Training Program for 200 youths and ensuring placements for them.
IIFL (India Infoline group), comprising the holding company, IIFL Holdings Ltd (NSE: IIFL, BSE: IIFL) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India's leading online destinations for personal finance, stock markets, economy and business.
IIFL has received 'Best Equity Broking House with Global Presence' at the D&B Equity Broking Awards
2012 as well as for 2011. IIFL Wealth was awarded 'Best Wealth Management House - India' at The Asset Triple A Investment Awards, from 2011 to 2013. IIFL has also been awarded as the 'Best Broker in India, 2011', by Finance Asia and the 'Best Equity Broker of the Year, 2011' by Bloomberg UTV.
A network of over 2,900 business locations spread across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of over a million customers, over a variety of mediums viz. online, over the phone and at our branches.
IIFL/ India Infoline refer to IIFL Holdings Ltd and its group companies.
This document may contain certain forward looking statements based on management expectations. Actual results may vary significantly from these forward looking statements. This document does not constitute an offer to buy or sell IIFL products, services or securities.
The press release, results and presentation for analysts/press for the quarter ended September 30,
2014, is available under the 'Investor Relations' section on our website www.indiainfoline.com.
For further details please contact:
IIFL Holdings Ltd |
Sourav Mishra |
M: 9702908211 |
e-mail: mailto:sourav.mishra@indiainfoline.comsourav.mishra@indiainfoline.com |
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