IIFL Securities declares 150% dividend, scrip ended on a green note

Market


With a market valuation of 2,037.95 Cr, IIFL Securities Limited is a small-cap company that does business as a stockbroking firm. A well-known online trading platform for stock market investments is IIFL Securities. The company has declared its Q3FY23 results today and along with this, it has declared a dividend of 150% for the financial year 2022-2023.

The company has said in a stock exchange filing that “the Board of Directors of the Company at their meeting held today i.e. January 23, 2023 has inter-alia considered and approved an interim dividend of Rs. 3/- per equity share of the face value of Rs. 2/- each (i.e. 150%) for the financial year 2022-2023. The record date for the said purpose is February 03, 2023, which has been already intimated to the Stock Exchange(s) vide letter dated January 17, 2023.”

The company declared a net revenue of 346.98 Cr in Q3FY23 on a consolidated basis compared to 367.95 Cr posted in Q3FY22, representing a YoY fall of 5.69%. IIFL Securities declared a net profit of 64.56 Cr in the quarter ended December 2022 on a consolidated basis as against 86.07 Cr posted in the quarter ended December 2021, representing a YoY fall of 25%. IIFL Securities’ EPS dropped to 2.12 per share in Q3FY23, compared to 2.84 recorded in the year-ago quarter.

On a standalone basis, the company posted revenue from operations of 314.52 Cr in Q3FY23 compared to 266.16 Cr posted in the year-ago quarter, representing a growth of 18.16%. The company declared a net profit of 65.92 Cr in Q3FY23 compared to 62.18 Cr posted in the same quarter of the previous fiscal year, representing a fall of 6% on a standalone basis. The company recorded an EPS of 2.16 per share in Q3FY23, as against 2.05 recorded in the year-ago quarter.

The shares of IIFL Securities Limited closed today on the NSE at 67.15 apiece level, up by 1.67% from the previous close of 66.05. The stock recorded a total volume of 256,746 shares compared to the 20-Day average volume of 229,660 shares. In the last 1 year, the stock has fallen 28.14% and on a YTD basis, it has gained 3.39% so far in 2023.


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