The share price of IIFL Securities surged 9 percent on Wednesday after the firm reported an over two-fold increase in the profit after tax in the March quarter. The PAT rose to Rs 77.6 crore in Q4 as against Rs 37.2 crore in the same quarter year ago.

Share Market Live

NSE

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).

The stock rose as much as 9.1 percent to its day's high of Rs 59.95 per share on the BSE.

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.