IIFL Fin results show multiple challenges: Fitch

NON-BANK LENDER IIFL Finance will likely see its annual earnings fall from a year earlier due to reduced net interest margins and higher credit costs, Fitch Ratings said on Monday.

- REUTERS

Earlier this month, IIFL Finance reported an 8% fall in loan assets under management to ₹71,410 crore ($8.24 billion) for the first nine months of the fiscal year that ends in March.

The company reported a loss of ₹14.46 crore, not factoring in taxes and a one-time gain, in the nine-month period, against a profit of ₹558 crore a year ago.