The numbers painted a story of solid quarter-on-quarter growth, even as year-on-year comparisons showed a few soft spots.
On a sequential basis, the company’s total income rose 19% to Rs 680.4 crore, buoyed by a 15% increase in revenue from operations to Rs 617.4 crore and a sharp 73% jump in other income to Rs 63 crore. This top-line momentum came despite a 10% rise in total expenses, which stood at Rs 452.9 crore. Employee costs inched up 8%, while finance costs saw a 7% decline. Fee and commission expenses rose 24%, reflecting growing business activity.
The bottom line saw a strong uptick as well. Profit before tax surged 39% to Rs 227.5 crore, while net profit came in at Rs 175.5 crore, registering a 37% jump from Q4 March 2025.
Operationally, the company continued to show traction in its key segments. Distribution AUM rose 14% to Rs 35,719 crore, while DP assets climbed 10% to Rs 2,08,352 crore, an encouraging sign for its wealth and distribution business.
However, on a year-on-year basis, the picture was more nuanced. Revenue from operations slipped 4%, weighed down by softer broking volumes. That said, the company’s other income skyrocketed by 1524%, more than making up for the decline in core revenues. Still, net profit fell slightly by 4%, and profit before tax declined 8%. Broking volumes, too, took a hit, with the average daily market turnover for the quarter down 31% YoY at Rs 2,23,232 crore, largely due to regulatory changes in derivatives trading.
R. Venkataraman, managing director said, "Our Institutional Broking witnessed good transaction for block deals and our Investment banking segment continues to win mandates. Our long term strategy is to transform our legacy retail broking business to wealth management practice and we are seeing good progress towards the same."
IIFL Capital Services offers broking services, wealth management, financial products distribution, institutional broking & research and investment banking services.