BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
IIFL Wealth and Asset Management Ltd.'s quality of earnings was encouraging, reaffirming our confidence on consistent earnings delivery.
Profit after tax growth of 16% QoQ/42% YoY to Rs 1.2 billion was well ahead of our expectations.
Heading towards business model change initiated in 2019, annual recurring revenue asset mix has improved from 40% to 50%.
Strong net flow of Rs91bn (excluding Rs 52 billion of corporate treasuries) supported 15% QoQ/61% YoY growth in ARR assets.
ARR revenue grew 20% QoQ/50% YoY, now constituting 68% of overall revenue.
Retention on ARR assets again settled above 70 basis points.
IIFL Wealth Management announced special dividend of Rs 35 per share with focus on improving capital efficiency.
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