Financial Services company IIFL Finance announced Q3FY24 results: For Q3FY24, the company reported a net profit after tax of Rs 545 crore (before non-controlling interest) up 29% YoY. Profit before tax (PBT) for the quarter was Rs 716 crore up 29% YoY. Loan growth in core products was robust – Gold loans and Home loans AUM grew by 35% and 25% YoY respectively. Microfinance grew by 54% while Digital loans and Loan against property grew by 96% and 27% YoY respectively. Overall core loan portfolio grew by 34% YoY. Nirmal Jain, Founder, IIFL Finance, remarked on the financial results: “We continue to grow at a healthy pace, in all core businesses in line with our targets. Our focus on asset quality is unflinching. Our Net NPAs are now below 1%, and GNPAs at lower than 2% are amongst the best in the industry. India is in a sweet spot to capitalize on reforms and growth focus of the government, favorable demographics, and improved global standing. The outlook for the next five years is distinctly sanguine and we are well placed to sustain our strong growth momentum." Kapish Jain, President & Group Chief Financial Officer, of IIFL Finance, commented on the financial results: “Despite healthy CAGR growth in our asset under management of ~ 23% since fiscal 2019, we continue to strengthen our capital position with net gearing at a consolidated level touching a five-year low of 3.3x. This was enabled through healthy internal accruals with expanded margins and asset-light business strategy.” Result PDF