IIFL Finance Q4 results: Consolidated net profit falls 6% to Rs 431 cr ...Middle East

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IIFL Finance Q4 results: Consolidated net profit falls 6% to Rs 431 cr
source : Business Standard ( Middle East ) () 69
IIFL Finance on Sunday reported a 6 per cent decline in consolidated net profit to Rs 431 crore for the March quarter as the RBI barred the financial services firm from undertaking gold loan business. The company had earned a net profit of Rs 458 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance Ltd from disbursing gold loans, with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Its consolidated total income during January-March 2024 rose to Rs 2,922 crore as compared with Rs 2,276 crore in the year-ago period, IIFL Finance said in a regulatory

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