BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
IIFL Wealth Management Ltd.'s Q3 net profit grew ~59% YoY to ~Rs 1.55 billion (our estimate: ~Rs 1.36 billion) boosted by total income growing ~50% YoY, partially offset by higher, 53%, cost-to-income ratio. Net flows at end-nine months-FY22 were ~Rs 244 billion.
The share of accounting rate of return assets in assets under management rose from 45% a year ago to 53% at end-Q3 FY22 (we estimate 58/61%% by FY23/FY24).
Alternative investment fund-induced asset management company AUM grew from ~Rs 323 billion a year ago to ~Rs 557 billion (our estimate: a ~43% compound annual growth rate over FY21-24 to ~Rs 1.09 trillion).
IIFL Wealth has an optimistic guidance for FY24 along with higher FY22/23 revised figures. Higher operating leverage and the strong business momentum should drive it forward.
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