Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

India Infoline Finance announces consolidated PAT of Rs. 181 crore

Posted On: 2019-08-15 15:37:27

India Infoline Finance reported a consolidated profit after tax on continuing business of Rs 181 Cr, up 43% q-o-q and 2% y-o-y; and a total income on continuing business of Rs 611 Cr , down 8% q-o-q and up 19% y-o-y. Commercial Vehicle Finance business was divested in Q4FY19, results below are given on continuing business for a like-to-like comparison.

India Infoline Finance had loan assets under management of Rs 34,920 Cr as at June 30, 2019, up 19%* y-o-y. The loan book growth has been positive in home loans, small ticket business loans, gold loans and microfinance.

The company had a widespread presence of 2,110 branches as at June 30, 2019, spanning the length and breadth of the country.

The company's ROE for Q1FY20 stood at 17.3% and ROA was 2.3%. Average borrowing costs increased by 68 bps y-o-y to 9.3% for the year and Net Interest Margin was at 8.3%.

85% of our loans are retail in nature and 43% are PSL compliant. The assigned loan book, currently at Rs9,128 Cr, is 26% of AUM. There exists significant opportunity for further assignment, given our granular and retail book.

GNPA stood at 2.0% and NNPA stood at 0.8%, as at June 30, 2019. With implementation of Expected Credit Loss under IndAS, provision coverage on NPAs stands at 131% including standard asset coverage.

Capital adequacy: Total CAR stood at 22.1% including Tier I capital of 18.4% as at June 30, 2019, as against statutory requirement of 15% and 10% respectively.

At the end of the quarter, retail home loan assets grew to Rs12,380 Cr, up 33% y-o-y. The primary focus in this segment is on affordable and non-metro housing loans. About 30,000 customers were benefitted with a subsidy of more than Rs 700 Cr under the Pradhan Mantri Awas Yojana - Credit Linked Subsidy Scheme.

As of June 30, 2019 the gold loans AUM grew to Rs 6,583 Cr, showing a strong growth of 46% y-o-y. Gold loans are provided through our widespread presence in 600+ cities across 25 states to salaried, self-employed and MSME customer segments.

The microfinance business continued its steady growth, with the loan AUM growing 112% y-o-y to Rs2,358 Cr as at June 30, 2019. The MFI customer base increased to over one million customers.

The company has maintained its long-term credit rating of AA (Stable) from CRISIL and ICRA.

Mr. Nirmal Jain, Chairman, IIFL Finance Ltd., commented on the financial results: "In Q1FY20, we have been able to weather the liquidity storm faced by the NBFC sector, due to the quality and character of our loan assets. Our loan assets, predominantly retail, have ready buyers in banks. We have assiduously built capability to originate retail assets over the last decade through investment in own branches, people, technology and brand. During the last year alone, we added more than 400 branches and 4000 people to our network. We are confident of maintaining margins and growth of IIFL Finance."

Mr. Sumit Bali, CEO, India Infoline Finance Ltd., commented on the financial results: "During the quarter, although loan AUM is flat, mix has changed favourably with faster growth in core retail assets. Our developer and construction finance (DCF) book's relative share in total loan assets has been falling. Also our DCF does not have exposure to projects in high priced central Mumbai region with excess supply, therefore has been performing well, even under the circumstances. We shall continue to fortify our core competency in retail lending and digital delivery by leveraging our large physical infrastructure of branches and continue to strengthen our competitive position in the sector."

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

ICRA updates on ratings of TNPL

Jump Networks Ltd inks agreement to provide wholesale Voip services

Lump Sum Term Key contract for Talcher Fertilizers Limited project awarded

Bajaj Finance Ltd board approves QIP of Rs. 8500 crore

Music Broadcast Ltd. recognized amongst 'India's Best Workplaces for Women - 2019'

ICRA assigns credit ratings to ITD Cementation India Ltd with rating watch

Advani Hotels & Resorts India Ltd Board declares First Interim Dividend of Rs. 0.80 for FY20

GHCL launches 'REKOOP 2.0' - An evolved and expanded expression of its sustainable bedding concept made with forensically tagged recycled polyester

Taneja Aerospace & Aviation Ltd's credit rating upgraded

Sunteck Realty acquires premium project near Lokhandwala, Andheri (West) for mixed-use development

Ahluwalia Contracts India Ltd secures new order of Rs. 407 crores

SMS Lifesciences India Ltd update on news item on Ranitidine HCL

JITF Infralogistics Ltd update on divestment of shares of material subsidiary company

CRISIL updates on ratings of Vivid Global Industries Ltd

Hindalco debuts on Dow Jones Sustainability Index (DJSI) 2019 in the Emerging Markets category

Som Distilleries & Breweries Ltd's subsidiary gets rating upgrade

PMLA Appellate Tribunal also releases assets of 63 moons from ED attachment

NHPC Limited approves debt raising of Rs. 2500 crore

Medicamen Biotech Ltd updates on acquisition of OPAL Pharmaceuticals Pty Ltd

CreditPilot and Tata Communications enter a financial technology partnership

Shares of Westlife Development Limited are now trading on the National Stock Exchange

ICRA revises ratings of UFO Moviez India Ltd

RTS Power Corporation Ltd changes rating agency

CRISIL assigns ratings to NGL Fine-Chem Limited

Tata Power Subsidiary to exit South African JV 'Cennergi' for USD 106 million

BEML and Wipro Infrastructure Engineering in strategic partnership

Ethos Ltd opens new store at Mumbai and closes store at Chandigarh

Glenmark receives Orphan Drug designation for GBR 1342

Asian Paints Ltd arm divests entires stake in Berger Paints Singapore Pte Ltd

CANYON terminates SPA to acquire TRF Ltd's step down subsidiary

Lemon Tree Hotels Ltd signs license agreement for 80 room hotel at Durgapur

Solix expands senior leadership team to accelerate Cloud Growth

Aavas Financiers raises INR 345 crore from IFC through NCDs

Satra Properties India Ltd has sold 49% in subsidiary

Bayer closes Monsanto integration in India

NACL Industries Ltd gets favorable verdict on insurance claim

ICRA credit Rating for Bank facilities of Banswara Syntex Ltd

American Express buys 9 acres land from DLF Group for its Office campus

SML ISUZU Ltd launches 'Executive Lx 5100 XT Bus'

CFO Tech Outlook recognizes Emagia as 'The Top 10 Fintech Solutions Providers 2019'

NBCC India Ltd signs MoU with Utkal University, Bhubaneswar

Central Bank of India changes Average Balance Charges in Savings Accounts on Monthly basis

General Motors and Tata Consultancy Services Launch New Partnership in Global Vehicle Engineering

ICRA downgrades outlook of Sandhar Technologies Ltd

USFDA issues DMF information request to SMS Pharmaceuticals Ltd

Wipro, lndustrie 4.0 Maturity Center Ink Strategic Partnership

Fintech Start-Up Tarrakki launch investment product in association with Reliance Nippon Life AMC

Asian Paints partners with Mahindra Logistics to strengthen its supply chain in Eastern India

Kaveri Seed Company Ltd board to consider buyback on Sep 24, 2019

Calcom Vision Ltd ties up with Bajaj Electricals Ltd

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019