IIFL Securities on Tuesday reported an over two-fold increase in profit after tax to Rs 77.6 crore for the three months ended March 2021. In comparison, the company had posted a profit after tax (PAT) of Rs 37.2 crore in the same quarter preceding fiscal, IIFL Securities said in a statement. Total income rose by 22 percent to Rs 256.3 crore from Rs 209.8 crore in the March quarter of the preceding fiscal (2019-20).

R Venkataraman, managing director of IIFL Securities, said, ”All our investment banking transactions were extremely well subscribed and witnessed very strong participation from high quality institutional, retail and HNI investors. Our deal pipeline for the coming quarters remain strong and robust”.

For the full year ended March 2021, the company’s PAT rose 52 percent to Rs 221 crore from Rs 145 crore in the previous fiscal. Total income for 2020-21 climbed 10 percent to Rs 867.8 crore from Rs 789.9 crore in the preceding fiscal. IIFL Securities, along with its subsidiaries, offers advisory and broking services, financial products distribution, institutional research, and investment banking services.

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First Published:May 5, 2021 9:08 AM IST