IITL Q2 Results: LIC-Backed Stock Posts Revenue Growth To Rs 6 Cr

Industrial Investment Trust Ltd (IITL) is a small cap company in the finance sector. The company has declared its financial results for the quarter ended 30th September 2023 post which the stock ended at Rs 178.70 apiece on Thursday.

The company said its consolidated revenue from operations stood at Rs 6.01 Cr in Q2FY24 compared to Rs 5.30 Cr in Q1FY24 and Rs 5.51 Cr in Q2FY23, representing a YoY growth of 9.07% and QoQ growth of 13.39%.

As per a regulatory filing, its consolidated net income stood at Rs 6.01 Cr during the quarter under review vs Rs 5.43 Cr in the first quarter of FY24 and Rs 5.60 Cr in the Q2 of FY23.

Its net expenses stood at Rs 3.36 Cr in the quarter under review as against Rs 2.53 Cr in Q1FY24.

The company said its consolidated net profit reached Rs 1.52 Cr in the September 2023 quarter vs Rs 1.97 Cr in June 2023 quarter vs Rs 19.31 Cr in the September 2022 quarter, representing a fall of 22.84% QoQ and 92.12% YoY.

On a standalone basis, the company's revenue from operations was Rs 5.14 Cr in Q2FY24 compared to Rs 4.70 Cr in Q1FY24 and Rs 5.05 Cr in Q2FY23. Its standalone net profit reached Rs 1.80 Cr.

In Q2FY24, the promoters held 57.97% of the company's shares, followed by FIIs with 3.72%, DIIs with 1.90%, the government with 0.30%, and the public with 36.10%. According to Industrial Investment Trust's shareholding pattern for the July-September 2023 quarter, the insurance behemoth LIC owned 2,54,716 shares, or 1.57% stake in the company.

On Thursday, the shares of IITL closed at Rs 178.70 apiece.