IIFL Capital Services Q2FY27 Revenue Up 22% to ₹722 Crore; Profit Up 25%
IIFL Capital Services reported Q2FY27 consolidated operating revenue of ₹722 crore, up 22% YoY. Profit before tax rose 25% YoY to ₹206 crore. Fairfax is acquiring up to 51% stake. Mr. Vasudev Jagannath will become MD from Jan 1, 2027.
The strong financial performance, coupled with the significant change in control due to Fairfax's acquisition and a planned leadership transition to a new Managing Director, are material events that will have a substantial impact on the company's future operations and strategic direction.
The company reported strong year-on-year growth in revenue and profit, along with significant corporate actions like the Fairfax stake acquisition and leadership transition, indicating positive business momentum and strategic progress.
IIFL Capital Services Limited (formerly IIFL Securities Limited) announced its consolidated financial results for the quarter and half-year ended September 30, 2026. The company reported consolidated operating revenues of ₹722 crore for the quarter, marking a 14% increase quarter-on-quarter and a 22% increase year-on-year. Operating profit before tax for the quarter stood at ₹206 crore, showing a substantial growth of 38% quarter-on-quarter and 25% year-on-year. As of September 30, 2026, the total assets under management reached ₹2,64,154 crore.
For the half-year ended September 30, 2027 (H1FY27), consolidated revenue from operations was ₹1,353 crore, a 12% increase year-on-year. Operating profit before tax for H1FY27 was ₹355 crore, up 8% year-on-year. Profit after tax for the half-year stood at ₹311 crore, a 19% increase year-on-year.
Mr. R. Venkataraman, Managing Director, commented that the strong operating momentum in Q2FY27, with operating revenues growing 22% year-on-year, was supported by growth in institutional equities, highlighting the resilience of the company's diversified platform.
The company's broking business saw an average daily market turnover of ₹3,05,073 crore (BSE + NSE) in Q2FY27, up 16% year-on-year. Financial product distribution AUM stood at ₹60,772 crore, up 6% quarter-on-quarter. The investment banking division completed 28 deals in Q2FY27 across capital markets and private placement/advisory, with a robust deal pipeline.
In significant corporate updates, the company has received all necessary approvals for Fairfax India Holdings Corporation's acquisition of up to a 51% stake through a preferential allotment and open offer. Fairfax will join the promoter group and will have the right to nominate directors to the board. The company also proposes to incorporate a wholly-owned NBFC subsidiary to expand its financial services and lending capabilities, focusing on HNI and UHNI clients.
As part of leadership succession planning, the Board has approved the appointment of Mr. Vasudev Jagannath as Additional Director and Whole-time Director, who will be re-designated as Managing Director from January 1, 2027. Mr. R. Venkataraman will continue to serve on the Board.
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