IIFL Finance Limited — Others, 13-12-2024: Security Cover Certificate

IIFL Finance Limited has announced a board meeting to discuss the financial results for the quarter and half-year ended September 30, 2024. The company reported a consolidated net loss after tax of ₹441.30 crore for Q2, attributable primarily to exceptional items, including a full provision for Security Receipts amounting to ₹586.50 crore. Revenue from operations decreased slightly to ₹2,571.90 crore, reflecting challenges in the market. The lifting of the Reserve Bank of India’s embargo on gold loans is a significant relief for operations, likely improving investor sentiment moving forward. However, caution remains due to ongoing adjustments in the investment portfolio.