IIFL Wealth & Asset Administration revenue rises 35% to Rs 160 crore in April-June

 IIFL Wealth & Asset Administration on Monday reported a 35 per cent progress in its revenue after tax at Rs 160 crore for 3 months ended June 2022.

Compared, the corporate had posted a PAT (Revenue After Tax) of Rs 119 crore in the identical quarter of the previous fiscal, IIFL Wealth & Asset Administration stated in a press release.

The corporate’s whole income rose 21 per cent to Rs 369 crore within the first quarter ended June 30, 2022 from Rs 304 crore in the identical interval a yr in the past.

“A powerful deal with process-based funding plans for our purchasers and funding methods, in addition to a robust recurring income base, has put us in a robust place for progress, together with a possibility to enhance our market share,” the corporate’s MD and CEO Karan Bhagat stated.

“We proceed to be cautious over the subsequent couple of quarters given the worldwide uncertainties whereas remaining alert to benefit from dislocations each available in the market and the general business,” he added.