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For the first nine months of FY25, IIFL Finance posted a 9.2% YoY increase in total revenue, reaching ₹7,619.65 crore. The company's net profit surged 32.6% YoY to ₹442.3 crore, compared to ₹333.6 crore in 9M FY24.
HSBC has upgraded its rating on IIFL Finance to 'Hold' and raised the target price to Rs 540 from Rs 350
Fitch Ratings has placed India-based IIFL Finance Limited's 'B+' Long-Term Issuer Default Rating (IDR) and medium-term note (MTN) programme rating on Rating Watch Negative (RWN).
Shares of NBFCs Muthoot Finance and Manappuram Finance surged in trade in what was an otherwise weak session for other gold financier IIFL Finance amid the RBI crackdown.
IIFL Finance share price on Tuesday saw a 20% decline soon after opening as investors turned cautious after the Reserve Bank of India barred the company from sanctioning or disbursing any new fresh gold loans.
This directive, effective immediately, comes as the RBI conducted an inspection of IIFL Finance's financial position as of March 31, 2023, revealing several significant supervisory concerns within the company's gold loan portfolio.
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