IIFL Capital Services Ltd
NSE:IIFLCAPS
IIFL Capital Services Ltd
IIFL Securities Ltd. is an institutional broking house and investment advisory firm. The company is headquartered in Mumbai, Maharashtra and currently employs 1,486 full-time employees. The company went IPO on 2019-08-20. The firm's business is to provide capital market services in primary and secondary market. Its segments include Capital market activity, Insurance broking and ancillary, and Facility & ancillary. The Capital market activity segment include distribution of financial services spaces offering capital market services such as equity broking, currency broking, commodity broking, depository participant services, merchant banking business and third-party financial product distribution services. The Insurance broking and ancillary segment include Insurance broking and wellness services. The Facility & ancillary segment include facilities and ancillary services includes real estate broking and other advisory services. The company also offers portfolio management services (PMS), alternative investment funds (AIFs) and other investment products.
IIFL Securities Ltd. is an institutional broking house and investment advisory firm. The company is headquartered in Mumbai, Maharashtra and currently employs 1,486 full-time employees. The company went IPO on 2019-08-20. The firm's business is to provide capital market services in primary and secondary market. Its segments include Capital market activity, Insurance broking and ancillary, and Facility & ancillary. The Capital market activity segment include distribution of financial services spaces offering capital market services such as equity broking, currency broking, commodity broking, depository participant services, merchant banking business and third-party financial product distribution services. The Insurance broking and ancillary segment include Insurance broking and wellness services. The Facility & ancillary segment include facilities and ancillary services includes real estate broking and other advisory services. The company also offers portfolio management services (PMS), alternative investment funds (AIFs) and other investment products.
Flat Revenue: Consolidated operational revenue for the quarter was INR 586 crores, remaining flat both quarter-on-quarter and year-on-year.
Segment Trends: Retail broking income grew 6% QoQ, while institutional and investment banking revenue fell 14% QoQ; financial product distribution income rose 3% QoQ.
Rising Costs: Expenses increased across employee costs (up 14% QoQ, 17% YoY), fees and commissions (up 10%), depreciation (up 13%), and admin expenses (up 5%).
Profit Decline: Operational profit before tax dropped 27% QoQ and 35% YoY, mainly due to higher costs.
Other Income Boost: Other income was strong at INR 135 crores, aided by a nearly INR 90 crore gain on real estate sale and mark-to-market gains.
Tax Update: The company paid an ad-hoc tax of INR 27 crores related to an ongoing income tax search but reported no material impact on financials.
Wealth Management Outlook: Wealth management business remains loss-making but is expected to approach breakeven by next year.
RM Headcount: Only 2–3 RMs were added this quarter, with plans to add 10–15 more by year-end, reflecting slow hiring.
