IIFL Finance Announced Q1FY23 Result : IIFL Finance had loan assets under management (loan AUM) of Rs 52,761 Cr as at June 30, 2022, with the home loans segment constituting 35%, gold loans 32%, business loans 15% and microfinance loans 12% of the total AUM. The company’s annualized ROE and ROA for Q1FY23 stood at 20.5% and 2.9% respectively. Core pre-provision operating profit stood at Rs. 674 Cr. for the quarter up 32% YoY. Average borrowing costs for the quarter declined 9 bps QoQ and 48 bps YoY to 8.5%. 95% of our loans are retail in nature and 67% of our retail loans (excluding gold loans which are not classified as PSL loans) are PSL compliant. The assigned loan book stood at Rs 14,577 Cr. Besides, there are securitized assets of Rs 1,957 Cr. Apart from securitization and assignment, we have co-lending book of Rs 3,842 Cr. GNPA stood at 2.6% down from 3.2% QoQ and NNPA stood at 1.5% down from 1.8% QoQ, as at June 30, 2022. With implementation of Expected Credit Loss under Ind AS, provision coverage on NPAs stands at 137%. Total CAR stood at 22.8% including Tier I capital of 15.3% as at June 30, 2022, as against minimum regulatory requirement of 15% and 10% respectively The total presence of branches stood at 3,595 as at the end of quarter, spanning the length and breadth of the country. Mr. Nirmal Jain, Managing Director, IIFL Finance Ltd., remarked on the financial results: “FY23 has begun well. Credit demand for retail loan products is picking up. Hike in interest rate till now, has not had any significant impact on credit demand or performance. India’s macro economy has been responding positively to the interventions by government and central bank. While good monsoon and downward trend in the commodity prices, augur well for the Indian economy, risk factors for growth continue to be inflation leading to interest rate hikes and adverse global geopolitical developments. We are excited about ADIA’s equity investment to bolster our housing finance business. Our long- term strategy of expansion of physical network and attaining digital domain depth remain on track. We are optimistic about outlook for the NBFC sector and the company’s robust competitive position in the sector.” Result PDF