IIFL Finance Q1 FY25 results: Net profit falls 28% to Rs 338 crore

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IIFL Finance Q1 FY25 results: Net profit falls 28% to Rs 338 crore - Business Standard

Quick Summary:

IIFL Finance on Tuesday posted 28 per cent decline in consolidated profit at Rs 338 crore for June quarter FY25 as RBI imposed ban on its gold loan business.

Total income increased to Rs 2,625 crore during the quarter under review from Rs 2,370 crore in the same period last year, IIFL Finance said in a regulatory filing.

The Reserve Bank of India (RBI) on March 4 barred IIFL Finance from disbursing gold loans with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal.