Financial services company IIFL Holdings’ net profit for the March 2016 quarter remained nearly flat at ₹136.5 crore, up marginally from the ₹131.7 crore reported in the year-ago period. For the full fiscal, net profit was ₹511.2 crore, a year-on-year increase of 14 per cent from ₹447.3 crore in FY15.
The biggest contributor to overall profitability was the non-banking finance business, which earned post-tax profit of ₹95 crore for the quarter, up 18 per cent from the year-ago period. Retail mortgage, commercial vehicle and medical equipment loans drove the growth in loan book, which had total assets under management of ₹19,514 crore at the end of FY16.
Ratios of bad assets — at the gross and net levels — fell to 1.44 per cent and 0.54 per cent, respectively, as on end-March, from 1.56 per cent and 0.61 per cent in the previous quarter.
In a press release, Nirmal Jain, Chairman, IIFL Holdings, said, “We achieved a healthy 14 per cent y-o-y growth in full year FY16 net profits, with ROE of 18.7 per cent and return on assets of 2.4 per cent. Our NBFC and wealth businesses delivered robust growth, while capital market activities declined due to adverse market conditions.”