Money & Banking

India Infoline Finance Q3 net jumps 78% to Rs 193 cr

PTI New Delhi | Updated on January 28, 2020 Published on January 28, 2020

India Infoline Finance Ltd on Tuesday reported a 78 per cent increase in consolidated net profit at Rs 193 crore for December quarter of 2019-20.

The company had registered a net profit of Rs 108.4 crore in the year ago period. Income during October-December period of 2019-20, was down by 2 per cent to Rs 582.60 crore, as against Rs 593.40 crore a year ago, IIFL said in a release.

India Infoline Finance had loan assets under management of Rs 36,015 crore as on December 31, 2019, with home loans segment constituting 34 per cent, business loans 23 per cent, gold 21 per cent and microfinance 8 per cent of the total AUM, it said.

“Although economic growth and macro headline numbers are yet to show a perceptible improvement, credit demand and liquidity show green shoots,” IIFL Finance Chairman Nirmal Jain said.

In the quarter ended December 31, 2019, there was a marked uptick in credit growth as well as long term borrowings, Jain said. Company’s gross non-performing assets (NPAs) stood at 2.27 per cent and net NPA at 0.98 per cent as on December 31, 2019.

Stock of the company traded at Rs 162.85 on BSE, down 4.01 per cent from previous close.

Published on January 28, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.