₹ 171 crore profit, the company announced to issue 1 for 1 bonus shares, the shares will also be divided into 2 parts
Bonus share and share distribution: IIFL Wealth Management reported a 12.2% increase in net profit to Rs 171.54 crore in the December quarter. Total revenue for Q3FY23 was Rs 530.95 crore, down 7% from Rs 570.62 crore in the same quarter last year. Shares of the company are trading at Rs 1,912.75, down 1.41% today.
Revenue increased by 10%
The company’s revenue grew 10% to Rs 415 crore in Q3FY22. Annualized recurring revenue grew 12% in Q3 of FY2018 compared to the same period last year. At the same time, the company’s board members approved bonus shares in the ratio of 1:1. At the same time, a 1:2 ratio of shares was also approved. The Company shall complete the proposed demerger within 2 months from the date of receipt of this notification i.e. on or before March 18, 2023. Regarding the stock split, the company said it wants to increase the participation of retail investors and increase liquidity in the market. Also, making it more accessible to small investors. The Board approved the Bonus issue in the ratio of 1:1. That is, for each share, the company gives one share as a bonus.
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the state of the company’s shares
Let’s say the company’s stock is up 7.23% year-to-date this year. It has gained 4.65% in the last five trading days and 17.26% in the last one year. Its maximum yield is 43.34%.
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