India's IIFL Securities jumps after qtrly profit rises

IIFL Capital Services

25/04/2023 05:21

** Shares of IIFL Securities Ltd  IIFS.NS  rise as much as
12.1% to 61.70 rupees, their biggest pct-gain since July 7, 2021
    ** Financial services co late on Monday reported a 9.4% rise
in March-qtr net profit to 863.4 mln rupees ($10.6 mln) 
    ** Total rev from ops rose ~16% to 4.02 bln rupees, of which
fees and commission income was 3.42 bln rupees
    ** Earnings were driven by the affluent broking and
distribution businesses, said R. Venkataraman, chairman and MD
of IIFL Securities
    ** Total broking revenue was 1.81 bln rupees 
    ** More than 1.4 mln shares traded as of 9:42 a.m. IST, 5.2
times their 30-day moving avg
    ** IIFS down 7.8% YTD


($1 = 81.8750 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))