IIFL Capital Announces Financial Results, Leadership Change and Strategic Initiatives
IIFL Capital Services Ltd reported consolidated operating revenue of ₹722 crore for the quarter ended September 30, 2026, representing a 14% increase quarter‑on‑quarter (QoQ) and a 22% rise year‑on‑year (YoY) compared with ₹631 crore in Q1FY27 and ₹592 crore in Q2FY26. Operating profit before tax (OPBT) for the quarter stood at ₹206 crore, up 38% QoQ from ₹149 crore and 25% YoY from ₹164 crore. Profit before tax declined to ₹174 crore, a 27% YoY decrease from ₹120 crore, while profit after tax fell to ₹127 crore, down 31% YoY from ₹85 crore.
For the first half of FY27, revenue from operations reached ₹1,353 crore, a 12% YoY increase over ₹1,209 crore in H1FY26. Operating profit before tax for the half year was ₹355 crore, up 8% YoY from ₹329 crore. Profit before tax rose 19% YoY to ₹414 crore, and profit after tax increased 19% YoY to ₹311 crore, compared with ₹261 crore in the prior half.
Mr. R. Venkataraman, Managing Director of IIFL Capital Services Ltd, stated that the firm maintained strong operating momentum in Q2FY27, with operating revenues growing 22% YoY, supported by growth in institutional equities and the resilience of its diversified platform amid market volatility.
In the non‑institutional business segment, IIFL Capital operates with over 2,600 partners and more than 90 branches across India. The average daily market turnover (including futures and options) for its broking business was ₹3,05,073 crore, down 3% QoQ but up 16% YoY. Financial product distribution assets under management (AUM) stood at ₹60,772 crore, up 6% QoQ.
The investment banking division completed 28 deals in Q2FY27 covering capital markets and private placement/advisory. Notable transactions included the IPO for the National Stock Exchange of India, offerings for Horizon Industrial Parks, Leap India, MilkyMist Dairy, RentoMojo, Money View, Kanohar Electricals, Molbio Diagnostics, Manipal Payments, Laser Power & Infra, a qualified institutional placement (QIP) for Adani Enterprises Ltd, Adani Energy Solutions, Aditya Infotech, Netweb Technologies, an OFS for Life Insurance Corporation of India, and advisory work for Knowledge Realty Trust, among others. The deal pipeline remains robust with multiple transactions at various stages.
The company has secured all required regulatory and shareholder approvals for a proposed change in control whereby Fairfax Investment (FIH Mauritius Investments Ltd and its affiliate) will acquire up to 51% of IIFL Capital through a preferential allotment, an open offer, and arrangements with existing promoters. The preferential allotment and open offer are being executed within prescribed statutory timelines, and the promoter arrangements will depend on the outcome of shares tendered in the open offer. Upon completion, Fairfax will join the promoter group, gain the right to nominate up to two directors to the board (shareholder approval already obtained), and hold a controlling stake.
IIFL Capital also announced the planned incorporation of a wholly‑owned subsidiary that will seek an NBFC licence. The subsidiary is intended to expand the firm’s financial services offering by providing structured lending solutions to high‑net‑worth (HNI) and ultra‑high‑net‑worth (UHNI) clients, including financing against financial assets, promoter funding and bespoke credit products, subject to regulatory approval.
As part of its leadership succession planning, the Board approved the appointment of Mr. Vasudev Jagannath as an Additional Director and Whole‑time Director for a three‑year term, subject to requisite approvals. With nearly two decades of experience at IIFL Capital, he will be re‑designated Managing Director effective January 1, 2027. Mr. R. Venkataraman will continue to serve on the Board of Directors.
IIFL Capital Services Ltd (NSE: IIFLCAPS, BSE: 542773) is a leading capital‑market player in India, offering broking, wealth management, financial product distribution, institutional broking & research, and investment banking services. The release contains forward‑looking statements; actual results may differ materially. The full press release and presentation for the quarter and half‑year ended September 30, 2026 are available on the company’s investor‑relations website.