IIFL Finance announced Q3FY23 results: Q3FY23: For the quarter ended December 31, 2022, the company reported net profit after tax of Rs 423 crore (before non-controlling interest), up 37% YoY. Pre-provision operating profit (PPOP) was Rs 773 crore, up 26% YoY. Loan growth in core products was robust. Gold loans and home loans AUM grew by 25% and 24% YoY respectively. Microfinance grew by 55%, while loan against property and digital loans grew by 14% and 3% YoY respectively. Overall, core loan portfolio grew by 26% YoY and non-core (primarily construction & real estate finance) portfolio shrunk by 7%. The company declared an interim dividend of 200%, i.e. Rs 4 per share (Rs 2 paid up). IIFL Finance had loan assets under management (loan AUM) of Rs 57,941 crore as of December 31, 2022, with the Home Loans segment constituting 35%, Gold Loans 32%, Loan Against Property 11%, Digital Loans 3% and Microfinance Loans 14% of the total AUM. 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. Assigned loan book is currently at Rs 15,939 crore. Besides, there are securitized assets of Rs 1,049 crore. Apart from securitization and assignment, co-lending book is at Rs 5,716 crore. Nirmal Jain, Managing Director, IIFL Finance Ltd, remarked on the financial results: “We are delighted to present our financial results delivering consistent and healthy growth. Our strategy remains focused on digital technologies complemented by our branch network, to deliver credit to under-banked customers across the country. Regardless of the turbulent global economic and geopolitical environment, the Indian economy is in a sweet spot, witnessing rapid growth. This makes prospects for our retail lending business very encouraging." Speaking about the appointment of the new brand ambassador, Manav Verma, Chief Marketing Officer, IIFL, said, “We want to be the loans destination of choice fulfilling dreams and goals of millions of Indians who don’t have easy access to credit. Tamannaah has been a top actor in India for the past fifteen years and deeply connects with our customer segments.” Tamannaah Bhatia said, “I am delighted to be associated with IIFL. Being a dreamer, I can identify with the dreams of millions of Indians and respect the role IIFL plays by providing credit across India. IIFL Finance’s brand philosophy, SeedhiBaat, reflects in their simple, straightforward product offerings and seamless processes, which also resonates with my professional philosophy.” Result PDF