IIFL Wealth Management Ltd Q2 consolidated PAT up at Rs. 87.13 crore

IIFL Wealth Management Limited has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.396.41 crores during the period ended September 30, 2020 as compared to Rs.361.03 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.87.13 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.82.27 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.9.87 for the period ended September 30, 2020 as compared to Rs.9.34 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 396.41 crs	₹ 361.03 crs	9.8%
Net Profit	₹ 87.13 crs	₹ 82.27 crs	5.91%
EPS	₹ 9.87	₹ 9.34	5.67%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.396.41 crores during the period ended September 30, 2020 as compared to Rs.375.53 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.87.13 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.68.41 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.9.87 for the period ended September 30, 2020 as compared to Rs.7.77 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 396.41 crs	₹ 375.53 crs	5.56%
Net Profit	₹ 87.13 crs	₹ 68.41 crs	27.36%
EPS	₹ 9.87	₹ 7.77	27.03%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.757.45 crores during the 6 months period ended September 30, 2020 as compared to Rs.721.98 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.169.40 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.129.96 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.19.20 for the 6 months period ended September 30, 2020 as compared to Rs.15.06 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 757.45 crs	₹ 721.98 crs	4.91%
Net Profit	₹ 169.40 crs	₹ 129.96 crs	30.35%
EPS	₹ 19.20	₹15.06	27.49%

Mr. Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management:

- Overall client sentiment has improved as they have seen a healthy turnaround in their own operating business. While ability to take risk has seen some increase – higher allocations remain towards fixed income instruments.

- Growth in our IIFL One PMS Services remains strong with 96% YoY, and 11% QoQ, increase in assets to Rs. 22,259 Crs. We continue to engage closely with clients and their feedback & acceptance gives us confidence to sustain our focus on this transparent and fee driven business model

- M&A Activity saw a healthy increase, resulting in monetization events for entrepreneurs and professionals, helping us grow our Net Flows at a much healthier pace compared to previous quarters

- With the release of the new RIA Guidelines it gives us an opportunity to clearly segment our different business verticals distinctly and match our services optimally to the needs of our clients. We will continue to operate as a Portfolio Managers for Discretionary and Non-Discretionary Services / Alternate Investment Fund Manager / Mutual Fund Manager / Registered Investment Advisor / Distributor for financial products including Mutual Funds / Registered Broker and Depository Participant

- Optimization of costs and effective rationalization of capital, along with continuous growth of the core business remain our key objectives. Challenges due to excess liquidity and benign loan growth, continue to have an impact on profitability

Shares of IIFL Wealth Management Limited was last trading in BSE at Rs. 927.25 as compared to the previous close of Rs. 898.10. The total number of shares traded during the day was 1514 and the deliverable quantity was 905.

The stock hit an intraday high of Rs. 946.70 and intraday low of Rs. 898.20.

Source : Equity Bulls

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