IIFL Finance reported a sharp rebound in profitability for the third quarter, posting a strong year-on-year and quarter-on-quarter improvement in earnings, alongside a meaningful improvement in asset quality.
For Q3, profit after tax (PAT after minority interest) stood at Rs 464.30 crore, compared with Rs 40.70 crore in the year-ago period, marking a jump of over 10 times year-on-year. On a sequential basis, profit rose 23.38% QoQ, reflecting improved operating performance during the quarter.
On a standalone basis, PAT came in at Rs 501.35 crore, up sharply from Rs 81.71 crore in the corresponding quarter last year, translating into a 513.57% YoY rise. Profit also increased 19.96% sequentially compared with the previous quarter.
Asset quality metrics showed a notable improvement during the quarter. Gross non-performing assets (GNPA) declined to 1.60%, compared with 2.42% in the year-ago quarter and 2.14% in the previous quarter, indicating lower stress in the loan book. Net non-performing assets (NNPA) also improved, easing to 0.75%, from 1.01% YoY and 1.02% QoQ.
The improvement in profitability and asset quality underscores a recovery in operating metrics during the quarter, supported by lower slippages and better balance sheet health. The company’s performance in Q3 reflects a sharp turnaround from the subdued profitability seen in the same period last year.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
