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IIF apology Finance racquets fall
IIFL Finance just posted its results for the June quarter: profits fell 19% to ₹233.4 crore compared to last year, but revenue actually jumped 12.7% to ₹2,952.8 crore.
So, while earnings took a hit, business activity is clearly up.
Stock slips 2% on results; management shakeup
After the results were announced post-market on July 30, IIFL's stock slipped by about 2%.
The company also shook up its top team—Mayank Sharma is now chief AI & innovation officer (moving up from internal audit), KS Praveen steps in as chief of internal audit, and Binay Kumar Mishra takes over as head of legal.
All these changes are part of their bigger strategy going forward.