IIFL Finance's Q4 2024 Results Show Mixed Performance, MarketsMOJO Recommends Hold
IIFL Finance, a midcap finance company, has recently declared its financial results for the quarter ended March 2024. According to the data released on June 15, 2024, the company's stock has been given a 'Hold' call by MarketsMOJO.
The financial performance of IIFL Finance for the quarter has remained flat, with a score of 4 out of 20 in the last three months. However, there are some positive aspects to the company's performance. The net sales for the quarter were the highest at Rs 2,853.57 crore and have shown growth in each of the last five quarters. The near-term sales trend is also very positive. Additionally, the net sales for the quarter have grown at 30.46% year on year, indicating a positive trend in the company's sales.
On the other hand, there are some areas where IIFL Finance needs to improve based on its March 2024 financials. The profit before tax less other income (PBT) for the quarter was the lowest at Rs 485.14 crore in the last five quarters, and the near-term trend for PBT is negative. The profit after tax (PAT) for the quarter has also fallen by 9.5% year on year, and the near-term trend for PAT is negative as well. The earnings per share (EPS) for the quarter were the lowest at Rs 9.51 in the last five quarters, indicating a decline in profitability and lower earnings for shareholders.
Overall, IIFL Finance's financial performance for the quarter ended March 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their position in the company's stock, as suggested by MarketsMOJO.
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