India's IIFL Finance climbs to one-year high on swing to quarterly profit

IIFL Finance

03/11/2025 05:31

** Shares of IIFL Finance IIFL.NS rise as much as 4% to 559 rupees, highest since Sept 19, 2024

** The non-bank finance co posts consol net PAT of 3.76 billion rupees ($42.78 million) vs loss a year ago

** Co's rev from ops rises 30% y/y

** Jefferies ("hold" rating, raises PT to 525 rupees from 465 rupees) says co beat PAT estimates, helped by selling on pools of loans from its portfolio to other financial instiutions, known as "direct assignments"

** Brokerage sees credit costs falling in H2; Net interest margins to improve

** YTD, IIFL up 33%

($1 = 87.8950 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))