IIFL Wealth & Asset Management on Monday reported a 35 per cent growth in its profit after tax at Rs 160 crore for three months ended June 2022.

In comparison, the company had posted a PAT (Profit After Tax) of Rs 119 crore in the same quarter of the preceding fiscal, IIFL Wealth & Asset Management said in a statement.

The company’s total revenue rose 21 per cent to Rs 369 crore in the first quarter ended June 30, 2022 from Rs 304 crore in the same period a year ago.

“A strong focus on process-based investment plans for our clients and investment strategies, as well as a strong recurring revenue base, has put us in a strong position for growth, along with an opportunity to improve our market share,” the company’s MD and CEO Karan Bhagat said.

“We continue to be cautious over the next couple of quarters given the global uncertainties while remaining alert to take advantage of dislocations both in the market and the overall industry,” he added.