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| Results Update – Q1 FY 22 |
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IIFL Wealth Management Ltd reported a Consolidated Profit After Tax of Rs 119 Crs for the quarter, up 16% QoQ, and 42% YoY. Total Revenues stood at Rs 304 Crs for the quarter, up 6% QoQ, up 27% YoY, Revenue from operations stood at Rs 283 Crs up 7% QoQ and 43% YoY, Annual Recurring Revenues stood at Rs 192 Crs up 20% QoQ and 51% YoY, Profit Before Tax (PBT) stood at Rs 151 Crs for the quarter, up 12% QoQ and 38% YoY.
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| Quarterly Update |
| Rs in Crs. |
Q1 FY 22 |
Q4 FY 21 |
Q-o-Q % |
Q1 FY 21 |
Q1 Y-o-Y% |
| Revenue from Operations |
283 |
266 |
7% |
199 |
43% |
| Annual Recurring Revenue |
192 |
161 |
20% |
128 |
51% |
| Transactional / Brokerage Income |
91 |
105 |
-13% |
71 |
28% |
| Other Income |
21 |
22 |
-4% |
40 |
-49% |
| Total Revenues |
304 |
287 |
6% |
239 |
27% |
| Total Expenses |
153 |
152 |
1% |
130 |
18% |
| Operating Profit Before Tax (OPBT) |
130 |
113 |
15% |
69 |
89% |
| Profit before Tax (PBT) |
151 |
135 |
12% |
109 |
38% |
| Profit After Tax including OCI (PAT) |
119 |
103 |
16% |
83 |
42% |
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| Mr. Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management: |
- We have had a tremendous start to FY22 with the highest quarterly profit in the company’s history and Total Assets Under Management have grown 15% QoQ to Rs 2.82 Tn. We are also pleased to announce a special dividend of Rs 35 per share, in line with our focus on improving capital efficiency and moving towards a consolidated ROE of 20%
- The company has achieved critical milestones across all key focus areas – ARR AUM (at 50% of total AUM), ARR Net flows (at Rs 36,000 Crs over last 5 quarters), and recurring revenues (at 67% of Q1 revenues) – overall, we are well on track in our ambitious business model change journey, initiated in 2019, for end of FY 2022
- Profit after tax for the quarter is at Rs 119 Crs, Cost to Income Ratio at 50.4%, Net flows at over Rs 14,000 Crs and Tangible ROE at 20% are well in line with our guidance, a testimony to our focus on delivering value for all our stakeholders
- Regulatory changes with regard to Advisory and accredited investors are path-breaking and we are excited by the opportunities it offers for us as well as for the overall industry. With our continued sharpening of IIFL-ONE – Advisory and Portfolio Management Propositions – we clearly remain market leaders in this space
- Our alternate asset management space continues to see a great response to new products from both institutions, family offices and HNIs across strategies, including Listed Equity; Unlisted Equity; Credit as well as Real Estate
- Client sentiment continues to be positive with a bias towards risk. We continue to maintain a judicious allocation between fixed income and equities across portfolios – and broadly have an asset allocation split of 50% each in the above asset classes
- We continue to invest heavily towards high-quality teams as well as technology, with digital becoming integral to all aspects of our business
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For further information,
please contact:
Mr. Mohit Hemrajani
Investor Relations | IIFL Wealth and Asset Management
Email : ir@iiflw.com
Phone: +91 73045 53450 |
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| IIFLW Q1 FY 22 Analyst Conference call is scheduled for Thursday, 5thAugust 2021, 2:00 PM IST |
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