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IIFL Finance outgoing CFO Prabodh Agrawal sells shares worth ₹79 million

As the stock bounces back from its 52-week low, outgoing IIFL CFO Prabodh Agrawal sells shares worth 79 million

After being hit by the NBFC crisis in September 2018, IIFL Finance has emerged stronger as debt market investors continue to repose confidence in the company. The well-diversified NBFC raised long-term loans worth 27.21 billion in Q3FY20, after mobilising funds worth 4.03 billion and 17.23 billion in Q1 and Q2, respectively. Due to its healthy performance, cost of funds was down by 9 basis points QoQ, whereas assets under management grew 3% to 360.15 billion. It also reported better asset quality as net and gross NPA dropped to 2.3% and 1% of the overall loan book from 2.5% and 1.5%, respectively. “We manage our asset liability mismatch diligently and conservatively, with a surplus in all buckets,” said the management in its latest investor presentation.