High Dividend Yield Stock: IIFL Wealth declares dividend of Rs 20 per share

On Thursday, scrip of IIFL Wealth Management closed at Rs 1,456 per share on BSE, down by 0.68 per cent.   

The Board of Directors of IIFL Wealth Management Limited have inter-alia approved first interim dividend for the financial year 2022-23 of Rs 20/- (Rupees twenty only) per equity share of the face value of Rs 2/- each and has fixed record date as Thursday, June 2, 2022, for this purpose.

IFL Wealth Management reported a consolidated profit after tax of Rs 168 crore for Q4FY22, up 8 per cent QoQ, and 51 per cent YoY, and Rs 582 crore for FY22, up 58 per cent over FY21. Profit before tax stood at Rs 214 crore for the quarter, up 8 per cent QoQ and 47 per cent YoY, and Rs 751 crore for FY22, up 55 per cent over FY21. 

Total revenues stood at Rs 449 crore up 7 per cent QoQ and 57 per cent YoY, and Rs 1,535 crore for FY22, up 46 per cent over FY21. Revenue from operations stood at Rs 423 crore up 12 per cent QoQ and 59 per cent YoY, and Rs 1,398 crore for FY22, up 53 per cent over FY21. Annual recurring revenues stood at Rs 252 crore up 3 per cent QoQ and 57 per cent YoY, and Rs 912 crore for FY22, up 56 per cent over FY21.

IIFL Wealth Management Limited, founded in 2008, is one of the largest private wealth management firms in India. The company mainly acts as wealth manager and provides services relating to financial products distribution, advisory, portfolio management services by mobilizing funds and assets of various classes of investors including high net worth Individuals. 

On Thursday, scrip of IIFL Wealth Management closed at Rs 1,456 per share on BSE, down by 0.68 per cent.