IIFL Wealth Management share price jumped over 9 percent in the morning session on August 4, a day after the company declared its June quarter results.
Net profit of IIFL Wealth rose 42.03 percent to Rs 116.85 crore in the quarter ended June 2021 as against Rs 82.27 crore during the previous quarter ended June 2020.
Sales of the company was up 9.47 percent to Rs 382.55 crore in the quarter ended June 2021 as against Rs 349.46 crore during the previous quarter ended June 2020.
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The stock was trading at Rs 1,513.75, up Rs 128.70, or 9.29 percent. It has touched a 52-week high of Rs 1,540.00. It has touched an intraday high of Rs 1,540.00 and an intraday low of Rs 1,448.00.
The scrip was trading with volumes of 17,371 shares, compared to its five day average of 5,937 shares, an increase of 192.59 percent.
"We are also pleased to announce a special dividend of Rs 35 per share, in line with our focus on improving capital efficiency and moving towards a consolidated ROE of 20%," the company said in an exchange filing.
"The company has achieved critical milestones across all key focus areas – ARR AUM (at 50% of total AUM), ARR Net flows (at Rs 36,000 crore over last 5 quarters), and recurring revenues (at 67% of Q1 revenues) – overall, we are well on track in our ambitious business model change journey, initiated in 2019, for end of FY 2022," it added.
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