IIFL Securities Reports Strong Q1 FY2025 Results and Plans Name Change

On July 31, 2024, IIFL Securities Ltd announced that it had reported significant increases in both revenue and profit for the quarter ending June 30, 2024.

IIFL Securities Ltd’s total income increased by 57% year over year to ₹643.8 crore, driven by strong performance across all key business segments. Total brokerage revenue rose by 75% year over year, with both institutional and retail broking performing well. Investment banking revenues increased by 25% year over year, with ten deals completed during the quarter.

Financial products distribution (FPD) revenues also grew by 25% year-on-year, with FPD assets under management (AUM) reaching ₹29,049 crore and SIP transactions growing even faster. Profit after tax soared by 144% year-on-year, supported by high operating leverage across all business areas. As of the end of June 2024, distribution and custody assets under management stood at ₹2,21,993 crore.

“IIFL Securities Ltd reported record profits during the quarter ended June 2024,” said Mr Nemkumar H, Managing Director.

He further added, “Our focus on the placement of large blocks on the institutional side, improved revenue productivity in retail broking, continued acceleration in asset mobilisation on the products distribution side and consummation of a number of capital market transactions helped us to report a strong YoY jump in revenues. Margin expansion led by better operating leverage drove an even faster profit growth. With equity markets hitting new highs, the cyclical tailwinds for our businesses remain benign.”

Change in Company Name

The company stated that the Board has approved changing its name from ‘IIFL Securities Limited’ to ‘IIFL Capital Services Limited.’ This change is pending necessary regulatory and shareholder approvals, including those from stock exchanges and other authorities. The new name better represents the wide range of services the company offers, including investment banking, financial product distribution, wealth management, and stock broking.

About IIFL Securities

IIFL Securities Ltd is a major player in India’s financial services sector. Along with its subsidiaries, it provides broking services, distributes financial products, offers institutional research, and delivers investment banking services. IIFL Securities has a diverse range of products and a wide network of branches across India, with sales representatives in Singapore, London, and New York.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.