IIFL Shares Fall 18% on Tax Notice Despite 11x Q3 Profit Growth
📉 IIFL Finance Q3 Performance Brief
**IIFL Finance** shares experienced a sharp decline on Thursday despite reporting an **11X jump** in Q3 profit, reaching **₹464 crore**.
The stock fall was driven by heavy trading volumes and news concerning **three GST orders** totaling **₹13.2 crore**.
Despite this, the company's underlying quarterly performance was robust, significantly supported by strong **Assets Under Management (AUM)** growth, particularly in its **gold loans** segment.