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Stock Report
IIFL Finance Ltd Q4 FY20 consolidated PAT drops to Rs. 58.74 crore
Posted On : 2020-05-29 11:47:22( TIMEZONE : IST )
IIFL Finance Limited has reported financial results for the period ended March 31, 2020.
Financial Results (Q4 FY19-20) - QoQ Comparison
The company has reported total income of Rs.1322.64 crores during the period ended March 31, 2020 as compared to Rs.1159.91 crores during the period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.58.74 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.182.46 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.1.55 for the period ended March 31, 2020 as compared to Rs.4.82 for the period ended December 31, 2019.
| Financials | Q4 FY19-20 | Q3 FY19-20 | % Change |
| Total Income | ₹ 1322.64 crs | ₹ 1159.91 crs |  14.03% |
| Net Profit | ₹ 58.74 crs | ₹ 182.46 crs |  -67.81% |
| EPS | ₹ 1.55 | ₹ 4.82 | -67.84% |
Financial Results (Q4 FY19-20) - YoY Comparison
The company has reported total income of Rs.1322.64 crores during the period ended March 31, 2020 as compared to Rs.1441.33 crores during the period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.58.74 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.305.59 crores for the period ended March 31, 2019.
The company has reported EPS of Rs.1.55 for the period ended March 31, 2020 as compared to Rs.8.02 for the period ended March 31, 2019.
| Financials | Q4 FY19-20 | Q4 FY18-19 | % Change |
| Total Income | ₹ 1322.64 crs | ₹ 1441.33 crs | -8.23% |
| Net Profit | ₹ 58.74 crs | ₹ 305.59 crs | -80.78% |
| EPS | ₹ 1.55 | ₹ 8.02 | -80.67% |
Financial Results (12 months ended FY 19-20) - YoY Comparison
The company has reported total income of Rs.4820.72 crores during the 12 months period ended March 31, 2020 as compared to Rs.5084.87 crores during the 12 months period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.501.82 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.794.62 crores for the 12 months period ended March 31, 2019.
The company has reported EPS of Rs.13.24 for the 12 months period ended March 31, 2020 as compared to Rs.20.89 for the 12 months period ended March 31, 2019.
| Financials | Year Ended FY19-20 | Year Ended FY18-19 | % Change |
| Total Income | ₹ 4820.72 crs | ₹ 5084.87 crs | -5.19% |
| Net Profit | ₹ 501.82 crs | ₹ 794.62 crs | -36.85% |
| EPS | ₹ 13.24 | ₹20.89 | -36.62% |
Mr. Nirmal Jain, Chairman, IIFL Finance Ltd., commented on the financial results: "The pandemic has changed the world, with the future uncertain as never before. NBFCs in India have an added challenge of uncertain flow of liquidity. Every crisis though throws unexpected opportunities as well. The Company has inherent strengths, good base of happy customers, large network of 2,377 branches, diversified product offering, committed team and best in class digital capability. These will be leveraged to adopt a radically new business model as Covid crisis fades. If we exclude Covid related provision, the quarter reported good performance with 26% q-o-q PBT growth. We are agile in monitoring developments and ready to adapt and advance as environment reverses to normalcy."
IIFL Finance had loan assets under management of Rs 37,951 Cr as at March 31, 2020, with the home loans segment constituting 33%, business loans 21%, gold 24% and microfinance 9% of the total AUM.
The company's ROE and ROA for FY20 stood at 16.9% and 2.2% respectively (excluding exceptional items). Average borrowing costs for the year increased by 43 bps y-o-y to 9.3%.
88% of our loans are retail in nature and 43% are PSL compliant. The assigned loan book, currently at Rs 9,721 Cr, is 26% of AUM. There exists significant opportunity for further assignment, given our granular and retail book.
GNPA stood at 2.31% and NNPA stood at 0.97%, as at March 31, 2020. With implementation of Expected Credit Loss under IndAS, provision coverage on NPAs stands at 128% including standard asset coverage. Provision coverage excluding the additional provision made for Covid impact stands at 88%.
The Company has offered moratorium to all its customers by default, on an opt-out basis. Accordingly, 29% of the total AUM in March 2020 and 58% of the total AUM in May 2020 were under moratorium.
Total CAR stood at 18.2% including Tier I capital of 13.6% as at March 31, 2020, as against statutory requirement of 15% and 10% respectively.
The company added 430 branches during the year, taking the total presence to 2,377 branches spanning the length and breadth of the country.
During the quarter, we raised Rs 1,699 Cr through term loans and refinance from banks. We also raised Rs 2,855 Cr (USD 400Mn) through our maiden medium term note (MTN) issue, as part of our USD 1 Bn MTN programme listed on the Singapore Stock Exchange. Loans of Rs 2,308 Cr were securitized/assigned during the quarter. Committed credit lines from banks and institutions of Rs 3,500 Cr were available as on March 31, 2020.
Shares of IIFL Finance Limited was last trading in BSE at Rs.63.6 as compared to the previous close of Rs. 64.25. The total number of shares traded during the day was 18624 in over 377 trades.
The stock hit an intraday high of Rs. 66 and intraday low of 63.6. The net turnover during the day was Rs. 1208022.
