IIFL Securities zooms on reporting a 10% rise in Q4 consolidated net profit!

The shares of the company gained more than 8% today.

 Quarter and Annual Results

IIFL Securities has reported a 4.36% rise in its net profit at Rs 121.42 crore for the fourth quarter (Q4) and year ended March 31, 2023. On a consolidated basis, the company reported a 9.53% rise in its net profit at Rs 86.40 crore for the same period compared to Rs 78.88 crore for the same quarter in the previous year. Additionally, the total income of the company increased by 11.92% at Rs 405.20 crore for Q4FY23 as compared to Rs 362.05 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2023, on a consolidated basis, the company reported an 18.32% fall in its net profit at Rs 249.81 crore compared to Rs 305.83 crore for the previous year. However, the total income of the company increased by 4.10% at Rs 1,370.39 crore for the year under review as compared to Rs 1,316.41 crore for the year ended March 31, 2022.

Share price movement of IIFL Securities Limited

The positive quarterly results led to a surge in the stock price of IIFL Securities Limited, which gained over 8% on the day. The stock opened at Rs 62.66, with a high and low of Rs 62.66 and Rs 58.60, and is currently trading at Rs 59.69.

The company's shares have a 52-week high of Rs 102.75 and a 52-week low of Rs 48.23, with a market capitalization of Rs 1,823.70 crore.

Company profile

IIFL Securities Limited, incorporated in 1996 as a broking arm of the IIFL Group, provides retail and institutional equities, financial product distribution, commodity broking, currency broking, investment banking, financial planning, and wealth management services to retail and institutional customers across India.