IIFL Wealth Posts A Mixed Q3: Motilal Oswal
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Motilal Oswal Report
IIFL Wealth Management Ltd.’s Q3 FY21 profit after tax grew 32% YoY to Rs 966 million.
The 21% beat was driven by healthy revenue and higher other income, partially offset by an increase in operating expenses.
In nine months FY21, core revenue (excluding other income) was largely flat at Rs 6.5 billion, while profit after tax was up approximately 30% YoY to Rs 2.7 billion.
Excluding the impact of other income, core operating profit was down 10% YoY to Rs 2.3 billion.
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