IIFL Securities on Friday reported a 22 per cent decline in profit after tax (PAT) to Rs 55.3 crore for the second quarter ended September 30.The company had posted a PAT of Rs 71 crore in the same period of the preceding fiscal, IIFL Securities said in a statement. Total income grew 2 per cent to Rs 323.4 crore for the quarter under review from Rs 318.4 crore in the second quarter ended September 30, 2021.
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“Broking business has started gaining momentum and is expected to grow in the second half of the financial year. It was a good quarter for our investment banking segment with 6 completed transactions. Our continuous endeavour to invest in technology will provide a better outcome in the coming quarters,” the company’s managing director R Venkataraman said.
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At the end of September this year, the company’s assets under management stood at over Rs 1.18 lakh crore. IIFL Securities is a key player in both retail and institutional segments of the capital market. The firm along with its subsidiaries offers advisory and broking services, financial products distribution, institutional research and investment banking services.
