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| Results Update – Q2 FY 22 |
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IIFL Wealth Management Ltd reported a Consolidated Profit After Tax of Rs 140 Crs for the quarter, up 19% QoQ, and 64% YoY, and Rs 259 Crs for the half year ended, up 53% YoY. Profit Before Tax stood at Rs 188 Crs for the quarter, up 25% QoQ and 67% YoY, and Rs 339 Crs for the half year ended, up 53% YoY.
Total Revenues stood at Rs 362 Crs up 19% QoQ and 47% YoY, and Rs 666 Crs for the half year ended, up 37% YoY. Revenue from Operations stood at Rs 314 Crs up 11% QoQ and 48% YoY, and Rs 597 Crs for the half year ended, up 45% YoY. Annual Recurring Revenues stood at Rs 222 Crs up 16% QoQ and 59% YoY, and Rs 414 Crs for the half year ended, up 55% YoY.
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| Quarterly Update |
| Rs in Crs. |
Q2 FY 22 |
Q1 FY 22 |
Q-o-Q % |
Q2 FY 21 |
Y-o-Y % |
H1 FY 22 |
H1 FY 21 |
6M
Y-o-Y %
|
| Revenue from Operations |
314 |
283 |
11% |
212 |
48% |
597 |
411 |
45% |
| Annual Recurring Revenue |
222 |
192 |
16% |
140 |
59% |
414 |
268 |
55% |
| Transactional / Brokerage Income |
92 |
91 |
1% |
72 |
28% |
183 |
143 |
28% |
| Other Income |
48 |
21 |
132% |
35 |
37% |
69 |
75 |
-9% |
| Total Revenues |
362 |
304 |
19% |
247 |
47% |
666 |
486 |
37% |
| Total Expenses |
174 |
153 |
13% |
134 |
30% |
327 |
264 |
24% |
| Operating Profit Before Tax (OPBT) |
141 |
130 |
8% |
78 |
80% |
271 |
147 |
84% |
| Profit before Tax (PBT) |
188 |
151 |
25% |
113 |
67% |
339 |
222 |
53% |
| Profit After Tax (PAT) |
140 |
119 |
19% |
86 |
64% |
259 |
169 |
53% |
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| Mr. Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management: |
- We continue our robust growth with another record setting quarter, reporting highest all-time Revenues, Operating Profit and PAT. We are pleased to announce an interim dividend of Rs 20 reflecting our continued focus on capital efficiency and value delivery.
- Total Assets Under Management have grown at 11.5% QoQ and now stand at Rs 315k Crs. During the quarter, we have crossed significant milestones with Wealth Management AUM crossing Rs 200k Crs, Asset Management AUM crossing Rs 50k Crs and Recurring Revenues at over 70% of Revenues from Operations.
- Profit after tax for the quarter is at Rs 140 Crs with Cost to Income ratio under 50% and Tangible ROE at 23.7%.
- Net Flows continue to be steady with flows of Rs ~18k Crs 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.
- Client sentiment remains positive with an increasing bias towards risk assets. While we continue to maintain a balance on asset allocation across portfolios, overall, there is an increase in share of Equity over the last quarter.
- We continue our relentless focus on our core drivers and key strategic enablers – across clients, business proposition, products, people, and technology.
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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 Q2 FY 22 Analyst Conference call is scheduled for Thursday, 28th October 2021, 2:00 PM |
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