Shares of IIFL Wealth Management surged 14 per cent to Rs 1,580, its 52-week high, on the Bombay Stock Exchange (BSE) in the intra-day trade after the company reported a good set of numbers for the quarter ended June 2021 (Q1FY22). Its consolidated profit after tax (PAT) jumped 42 per cent year on year (YoY) at Rs 119 crore on the back of strong operational performance, while sequentially, PAT grew 16 per cent. The company announced a special dividend of Rs 35 per share.

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Its revenue from operations, meanwhile, stood at Rs 283 crore, up 7 per cent quarter on quarter (QoQ)and 43 per cent YoY. Total assets under management (AUM) grew 15 per cent QoQ to Rs 2.82 trillion.
The beat on profitability was driven by a 12 per cent beat on net revenues owing to both annual recurring revenue (ARR) and transactional/brokerage revenue (TBR), better operating efficiency, and a lower tax rate of 22.6 per cent.

The quarter witnessed solid net inflows of Rs 14,300 crore (including corporate treasury inflows of Rs 5,200 crore), of which Rs 9,700 crore belonged to ARR and Rs 4,600 to TBR. The quarter also witnessed an increase in the share of high-yielding DPMS assets within IIFL ONE assets.

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IIFL Wealth Management-View Detailed Analysis