Total expenses in Q4 FY23 were Rs 286.09 crore, higher by 11.5% as compared with Q4 FY22.

IIFL Securities recorded 18.3% decline in consolidated net profit to Rs 250.16 crore despite of 9.7% increase in revenue from operations to Rs 1,352.08 crore in FY23 over FY22.

During the financial year 2022-2023, the assets under management and custody stood at Rs 1,24,573 crore.

R. Venkataraman, chairman & managing director, IIFL Securities said, “Our company continued to perform well during the quarter, driven by the affluent broking and distribution businesses. During the quarter, we have worked towards sharpening our strategy and focus on the customers in line with the reorganization scheme approved by the board. The reorganization scheme is awaiting regulatory approvals.”

Meanwhile, the board declared an interim dividend of Rs 3 per equity share during the financial year ended 31 March 2023.

Further, the company's board appointed Shanker Ramrakhiani, chief information security officer (CISO) as a key managerial personnel (KMP) of the company with effect from 1 May 2023.

Lastly, the board of directors approved the issuance of secured or unsecured redeemable non-convertible debentures (NCDs), in one or more tranches on an annual basis through private placement basis up to a limit of Rs 500 crore.

IIFL Securities, along with its subsidiaries, offers advisory and broking services, financial products distribution, institutional research and investment banking services.