IIFL Capital Services consolidated PAT at Rs86cr, up 70% yoy

24 Jan 2022 , 06:18 PM

IIFL Capital Services Ltd announced consolidated financial results for the quarter and nine months ended December 31, 2021.

Total Income stood at Rs 368 Cr for the quarter (up 71% y-o-y and up 16% q-o-q) and Rs 955 Cr for the nine months (up 56% y-o-y). Profit after tax stood at Rs 86 Cr for the quarter (up 70% y-o-y and up 19% q-o-q) and Rs. 227 Cr for the nine months (up 59% y-o-y)

Assets under custody stood at Rs. 1,32,377 Cr (up 242% y-o-y and up 12% q-o-q).

Mr. R. Venkataraman, Managing Director, IIFL Capital Services commented on the financial results: “All our business segments continue to do well. The board of directors have declared an interim dividend of Rs.3 per share. Our investment banking segment continues to perform well with a strong deal pipeline for the coming quarters.”

Retail and Institutional Broking

IIFL Capital Services is a key player in both retail and institutional segments of the capital market. We have over 2500 points of presence across India and provide unparalleled research coverage on 250+ companies.

For the quarter, the average daily market turnover (including F&O) for the broking business was Rs 83,546 Cr (BSE + NSE), up 153% y-o-y and 24% q-o-q.

Total broking revenue was Rs 145.9 Cr for the quarter ended December 31, 2021, up 47% y-o-y.

IIFL’s Institutional broking segment has over 770+ domestic and foreign clients. It provides comprehensive research coverage, covering over 255 stocks across 20 + sectors accounting for over 80% of India’s market capitalization.

Financial Products Distribution (FPD)

IIFL Capital Services offers a wide range of products such as mutual funds, insurance, IPOs, bonds, AIF and others, targeting retail clients. FPD AUM stood at Rs. 15,901 Cr. Insurance premium stood at Rs 55.2 Cr for the quarter, up 54% y-o-y and 25% q-o-q. Mutual Fund AUM remained flat at Rs 6,854 Cr as at December 31, 2021. SIP AUM grew by 60% y-o-y and 10% q-o-q to Rs 1,439 Cr.

Investment Banking

The previous quarter had been a strong quarter for our investment banking segment. Our investment banking division completed 13 deals comprising of IPOs, QIPs/private placement and debt transactions. Select transactions completed by us include the IPOs for Policy Bazar, Anand Rathi Wealth, Star Health and Allied Insurance company and Aditya Birla Sunlife AMC. Our deal pipeline remains robust and we are running multiple transactions which are at various stages of execution. We are well positioned to grow our segment given our superior research and strong distribution capabilities.

Interim Dividend

The Board of Directors have declared an interim dividend of Rs3 per equity share having face value of Rs2 each for the financial year 2021-2022. The Company has fixed the record date as February 04, 2022 for this purpose.

Awards and Accolades
        
–  IIFL Capital Services received the award for Top Performance in the Equity Institution segment from BSE for FY21
–  IIFL Capital Services received the award from BSE for Top Performance in the SGB segment for FY21.
–  IIFL Capital Services received award for brand excellence in banking, financial services and insurance sector at the Global Marketing Excellence Awards
–  IIFL Capital Services received broker of the year award at World Sustainability Presents Sustainable BFSI Practices Awards
–  IIFL Capital Services received Dream Company to work in financial services sector at World Sustainability Presents Sustainable BFSI Practices Awards