See strong growth for wealth management biz, NBFC: IIFL

IIFL Holdings posted a steady set of fourth quarter earnings on Thursday.

The company saw a 12 percent revenue gain to Rs 1,108 crore quarter-on-quarter (QoQ) and net profit went up 7 percent to Rs 136.5 crore (QoQ).

Giving an outlook for the company, Prabodh Agarwal, Group CFO of IIFL said that there has been a slowdown in the mutual fund distribution business but the company has coped well with changes in mutual fund fee structure.

Speaking on IIFL’s deal with General Atlantic, he said that Rs 904 crore has been received from it as of now and the benefits from it will reflect in FY17.