India Infoline Finance had loan assets under management of Rs 36,015 crore as at 31 December 2019, with the home loans segment constituting 34%, business loans 23%, gold 21% and microfinance 8% of the total asset under management (AUM). The company had a widespread presence of 2,366 branches as at the end of the quarter, spanning the length and breadth of the country.

Gross NPA stood at 2.27% and Net NPA stood at 0.98%, as at 31 December 2019. With implementation of Expected Credit Loss under IndAS, provision coverage on NPAs stands at 95% including standard asset coverage.

Nirmal Jain, chairman, IIFL Finance, commented on the financial results: "Although economic growth and macro headline numbers are yet to show a perceptible improvement, credit demand and liquidity show green shoots. IIFL Finance's performance in the quarter under review indicates all-round improvement in the operating environment. IIFL also benefits from softening of competitive intensity in core segments. In the quarter ended December 31, 2019, there was a marked uptick in credit growth as well as long term borrowings."

Sumit Bali, CEO, commented on the financial results: "We continue to make progress on our strategy to grow core assets. Asset quality continues to be satisfactory in an environment of slowing growth in the economy. We have seen improvement in the liquidity flow to us and expect this trend to continue."

IIFL Finance, through its subsidiaries, offers a wide spectrum of products such as home loan, gold loan, business loan, microfinance, capital market finance and developer & construction finance to a vast customer base of about 30 lakh customers. IIFL Finance has widened its pan-India reach through extensive network of branches spread across the country and various digital channels.