Friday, 27 January 2017

IIFL soars on Strong Consolidated Third Quarter Results

On Wednesday diversified financial services firm IIFL Holdings announced its Q3 result for the ongoing quarter. The company reported a 41.3% increase in consolidated net profit for the December quarter at Rs 179.1 crore from Rs 126.7 crore in the same period last year. IIFL’s consolidated total income went up by 29.4% from a year ago to Rs 1,270.5 crore. 

 However, on a standalone basis, the company’s net profit declined 67.8% to Rs 25.9 crore and total income fell 55.6% to Rs 37 crore. On the strong consolidated Q3FY17 result, IIFL share price surged 10.23 per cent and traded at the morning high of Rs. 314.

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