IIFL Finance Q3 profit up multifold to ₹501 crore; scrip tanks 13% on I-T department directive

admin — Thu, 22 Jan 2026 17:06:00 +0000

IIFL Finance logo. Photo credits: www.iifl.com

IIFL Finance, an NBFC providing gold loans and business loans, on Thursday (January 22, 2026) said its December quarter net profit grew multifold to ₹501 crore as compared to the year-ago period.

A year ago, the profit was ₹82 crore.

IIFL Finance said the Income Tax Department has directed the company to get its accounts audited for a specified block period under Section 142(2A) of the Income Tax Act, 1961, and to appoint a “special auditor” for the purpose.

In a regulatory filing, IIFL Finance said the directive from the department dated January 21 is “in connection with ongoing assessment proceedings and is procedural in nature”.

“There is no adjudication or determination against the company under the said communication, and at this stage no financial impact can be ascertained,” it said.

Besides, the company has received two orders from the Goods and Services Tax departments of Bihar and Gujarat imposing penalty of over ₹13 crore.

Shares of IIFL Finance tanked 13.15% to close at ₹540.80 apiece on the BSE.

In a statement, IIFL Finance said its gold loan asset under management (AUM) almost tripled to ₹43,432 crore demonstrating a strong momentum supported by healthy tonnage growth and stable asset quality.

Home loan AUM grew 5% YoY to ₹31,893 crore, MSME loan AUM rose 17% to ₹10,081 crore, while microfinance loan AUM dipped 19% at ₹8,360 crore during the third quarter ended December 31, 2025.

IIFL Finance founder & managing director, Nirmal Jain said, “Going forward, our AI-led operating framework, phygital distribution network, and strong risk and compliance discipline will remain central to delivering consistent performance and long-term value creation”.

Published – January 22, 2026 10:36 pm IST

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RBI Bars Non-Bank Finance Company From Offering Gold Loans

admin — Mon, 04 Mar 2024 18:07:38 +0000

RBI has been engaging with IIFL Finance’s senior management and auditors (Representational)

The Reserve Bank of India on Monday ordered non-bank finance company IIFL Finance to stop sanctioning, disbursing and selling gold loans with immediate effect, citing “material supervisory concerns” in its gold loan portfolio.

There were “serious deviations” in assessing the gold taken as collateral and breaches in the maximum permitted loan-to-value ratio, the RBI said in a statement, citing findings from an inspection carried out on the company’s financial position as on March 31, 2023.

The RBI also found that IIFL Finance made significant disbursals and used cash collections more than permitted, and there was a lack of transparency in the charges levied to customer accounts.

IIFL said in an exchange filing it could not ascertain the financial impact from the order at this time.

Its gold loans under management stood at 246.92 billion rupees (about $3 billion) as on Dec. 31, accounting for 32% of its total assets.

“We reaffirm our commitment to rectify observations of the RBI in gold loan portfolio,” IIFL added.

The central bank has been engaging with the company’s senior management and auditors on these deficiencies over the last few months, but no meaningful corrective action has been “evidenced so far”, necessitating the imposition of business restrictions “in the overall interest of customers”, the RBI said.

India’s central bank has stepped up oversight of banks and non-bank finance companies over the last few years to ensure compliance of its norms and protect customer interest.

The central bank will review the restrictions on IIFL Finance after completion of a special audit and rectifications by the company, it said.

For now, IIFL can continue to service its existing gold loan portfolio through usual collection and recovery processes, the regulator said.

Shares of the company closed 4.1% lower on Monday.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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IIFL Finance – Artifex.News

IIFL Finance Q3 profit up multifold to ₹501 crore; scrip tanks 13% on I-T department directive

RBI Bars Non-Bank Finance Company From Offering Gold Loans