IIFL Finance profit up 25% on strong growth in loans
Financial Express Mumbai|October 19, 2023
THE CONSOLIDATED NET profit of IIFL Finance rose 25% year-on-year in July-September quarter due to a growth in its loan book and an improvement in asset quality.
AJAY RAMANATHAN
IIFL Finance profit up 25% on strong growth in loans

The company posted a bottom line of ₹474.3 crore in the quarter under review, up 11% on a sequential basis.

The non-bank lender's loan assets under management rose 32% year-on-year to ₹73,066 crore as on September 30.

Of this, the co-lending book rose 125% year-on-year to ₹10,576 crore, and assigned assets rose 19% year-on-year to 18,429 crore.

Specifically, digital loans rose 77% year-on-year to ₹3,539 crore as on September 30. Microfinance segment rose 67% year-on-year to 11,307 crore.

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