New Delhi, Jan 22 (PTI) IIFL Finance, an NBFC providing gold loans and business loans, on Thursday said its December quarter net profit grew multifold to Rs 501 crore as compared to the year-ago period.
A year ago, the profit was Rs 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 Rs 13 crore.
Shares of IIFL Finance tanked 13.15 per cent to close at Rs 540.80 apiece on the BSE.
In a statement, IIFL Finance said its gold loan asset under management (AUM) almost tripled to Rs 43,432 crore demonstrating a strong momentum supported by healthy tonnage growth and stable asset quality.
Home loan AUM grew 5 per cent YoY to Rs 31,893 crore, MSME loan AUM rose 17 per cent to Rs 10,081 crore, while microfinance loan AUM dipped 19 per cent at Rs 8,360 crore during the third quarter ended December 31, 2025.
IIFL Finance, Founder and 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". PTI JD JD ANU
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