IIFL Finance announced Q2FY23 results: For the quarter ended September 30, 2022, the Company reported Total comprehensive income (TCI) of Rs. 422 crore up 46% YoY and net profit after tax of Rs. 397 crore (before non-controlling interest) up 36% YoY. Pre-provision operating profit (PPOP) was Rs. 685 crore up 23% YoY Loan growth in core products was robust – Gold loans and Home loans AUM grew by 31% and 25% YoY respectively. Microfinance and Business loans grew by 49% and 14% YoY respectively Overall core loan portfolio grew by 28% YoY and non-core (primarily Construction & real estate finance) portfolio shrank by 9% YoY Mr. Nirmal Jain, Managing Director, IIFL Finance Ltd., remarked on the financial results: “We are pleased to report another quarter of healthy growth. All our core businesses have delivered robust operating performance. The government and central bank continue their effort to drive financial inclusion, providing a very conducive environment for growth to companies like ours. Our branch network and online presence reach out primarily to individuals and entities not easily accessible to banks. We complement banks and partner with them for sourcing and servicing of retail and priority sector credit. We endeavour to be the most efficient player in our space by using technology and scale.” Result PDF