IIFL Finance reports half yearly profit of Rs. 557 crores, up 128% YoY, quarterly profits at Rs. 292 crores, up 37% YoY Highlights: Profit growth momentum- H1FY22 up 128% y-o-y; Q2FY22- up 37% y-o-y Net profit grew 128% y-o-y in H1FY22 (6 months) to Rs557 Cr. The quarterly net profit was Rs292 Cr, up 37% y-o-y and 10% q-o-q Loan AUM grows to Rs44,249 Cr, up 8% y-o-y and up 3% q-o-q IIFL loan assets under management grew 8% y-o-y, driven by sustained growth in home loan and gold loan businesses Liquidity comfort at all-time high at Rs6,379 Cr As at September 2021, Free cash, equivalent and undrawn lines were Rs6,379 Cr, adequate to meet not only all near term liabilities but also to fund the growth momentum Betting on growth- Added 4000 employees in H1FY22 IIFL added 4000 employees in H1FY22, including 2700 in Q2FY22 itself. Commenced 230 new branches in Q2FY22. Also aggressive investment in technology and branding continues, betting on growth in next 2/3 years. Maintaining RoE above 20% p.a., whilst funding growth Notwithstanding large investment in growth causing spike in operating costs, our RoE remained above 20.0% and ROA above 2.5%. With ongoing expansion, operating cost grew 23% q-o-q Mr Nirmal Jain, Chairman, IIFL Finance Ltd., commented on the financial results: “We have made aggressive bet on growth, with almost 15% net increase in manpower strength in the last quarter itself. Besides, we have accelerated investment in technology and branding. Our co-lending proposition is getting very positive response from banks. Our strategy of focusing on small ticket retail loan assets with extensive use of digital technology and partnering with banks for co-lending, is vindicated by robust profit growth.” Result PDF