|
Profit Before Tax stood at Rs 188 crore for the quarter, up 25% QoQ and 67% YoY. Operating Profits (OPBT) rose 7.9% QoQ and 80.1% YoY to Rs 141 crore in Q2 September 2021.
Revenue from operations stood at Rs 314 crore up 11% QoQ and 48% YoY. Annual recurring revenues stood at Rs 222 crore up 16% QoQ and 59% YoY.
Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management said: "Total Assets Under Management have grown at 11.5% QoQ and now stand at Rs 315,000 crore. During the quarter, wealth management AUM crossed Rs 200,000 crore, asset management AUM crossing Rs 50,000 crore and recurring revenues at over 70% of revenues from operations."
"Net flows continue to be steady with flows of about Rs 18,000 crore in H1 FY22, which is well ahead of the run-rate envisaged in our guidance for the year. Overall retentions have also held steady with retentions on recurring revenue assets continuing at over 70bps."
The company said that client sentiment remains positive with an increasing bias towards risk assets. While the company continues to maintain a balance on asset allocation across portfolios, overall, there is an increase in share of equity over the last quarter.
The company announced a second interim dividend of Rs 20 per equity shares for the financial year 2021-22. The record date is fixed on Monday, 8 November 2021.
IIFL Wealth is a private wealth management firm in India. It serves the high net worth and ultra-high net worth individuals, affluent families, family offices and institutional clients through a comprehensive range of tailored wealth management solutions.
|