IIFL CAPITAL SERVICES LTD

During the earnings conference call held on July 24, 2026, management reported that IIFL Capital Services Limited's consolidated operational revenue for Q1 FY27 was INR 631 crores, remaining flat compared to the previous quarter and year. Retail broking revenue was INR 297 crores, also flat, while institutional and investment banking revenue increased by 27% to INR 207 crores. Financial product distribution income decreased by 31% to INR 125 crores due to seasonal factors. Management noted a 4% increase in operational profit before tax (PBT) quarter-on-quarter, while other income rose significantly due to mark-to-market gains on BSE shares. Management provided an update on a proposed investment from Fairfax India Holdings, which aims to increase its shareholding to at least 51%. The company is awaiting regulatory approvals for this transaction. Additionally, management addressed questions regarding asset under management (AUM) growth and the impact of recent SEBI regulations on the broking business.

Management presented a balanced view of the company's performance and ongoing developments.