IIFL Capital Services Limited — Investor Meet, 17-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

IIFL Capital's Q3 FY26 operational revenue was flat at INR 586 Cr. Retail Broking income grew 6% QoQ to INR 288 Cr, but Institutional & Investment Banking dipped 14% to INR 160 Cr. Increased employee costs (INR 175 Cr) and other expenses led to a 27% QoQ drop in operational PBT to INR 119 Cr, though other income included a INR 90 Cr property sale gain. Management is investing in wealth management, targeting break-even next year, but faces RM recruitment challenges. An income tax search resulted in a INR 27 Cr ad hoc tax payment, with no material impact anticipated. Management maintains a focused and cautious outlook.