IIFL Capital Services Ltd has reported a mixed performance for the quarter ended December 31, 2025, with consolidated operating revenue remaining largely flat while profit after tax more than doubling sequentially, supported by non-operating gains.
The company posted total operating revenue of Rs 586 crore in Q3FY26, marginally lower by 1 per cent quarter-on-quarter and up 1 per cent year-on-year. Operating profit before tax stood at Rs 119 crore, declining 27 per cent sequentially and 36 per cent compared to the same period last year, largely due to higher employee costs as the firm continues to invest in building its wealth management practice.
However, profit before tax surged to Rs 254 crore, up 112 per cent quarter-on-quarter and 2 per cent year-on-year. Profit after tax came in at Rs 188 crore, rising 121 per cent sequentially, though marginally lower by 5 per cent compared to Q3FY25.
For the nine months ended December 31, 2025, consolidated operating revenue stood at Rs 1,795 crore, down 4 per cent year-on-year. Profit after tax for the period was Rs 449 crore, lower by 23 per cent compared to the previous year.
As of December 2025, distribution assets under management rose to Rs 48,322 crore, reflecting 9 per cent growth quarter-on-quarter. Custody assets under management stood at Rs 2,12,314 crore.
The company’s non-institutional business continues to expand, supported by a network of over 3,100 external wealth managers and more than 100 branches across India. Average daily market turnover in the broking business, including derivatives, reached Rs 3,14,660 crore during the quarter, marking a 19 per cent increase sequentially.
In the institutional segment, IIFL Capital provides research coverage across more than 315 stocks, representing over 72 per cent of India’s market capitalisation. During the quarter, the investment banking division completed 12 deals spanning capital markets transactions and private placements, with the deal pipeline described as robust.
The Board of Directors declared an interim dividend of Rs 3 per equity share of face value Rs 2 each for FY26. The record date has been fixed as February 16, 2026.
R. Venkataraman, Managing Director, IIFL Capital,said revenue remained largely stable both sequentially and year-on-year, though operating profit declined due to increased investments in talent to strengthen the wealth management franchise. He added that distribution assets continued to grow steadily during the quarter.
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