Fairfax India Holdings Corporation: Third Quarter Financial Results
Key Highlights
- ➤Q3 net earnings $37.6M, versus $3.2M in Q3 2025
- ➤Book value per share $20.75, slightly above $20.74 in Q2
- ➤IIFL Finance stake sale generated $36.3M in net realized gains
- ➤Foreign-currency translation losses totaled $36.0M, reflecting rupee depreciation
- ➤Revolving credit facility increased temporarily to $470.0M from $220.0M
Expert Statements
Gopalakrishnan Soundarajan, Chief Executive Officer of Fairfax India Holdings Corporation
“Our net earnings of $37.6 million in the quarter was largely comprised of net gains on public common stocks of $52.8 million, including realized gains on the sale of a portion of our IIFL Finance equity interest. We expect fluctuations in the value of our common stock investments from quarter to quarter and remain focused on their long term performance”
Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited and Founder of Fairfax India
“As discussed during our conference call on October 15, 2026 we are very excited to be selected by the Government of India to be the purchaser of the Government's interest in IDBI Bank. This transaction represents a once in a lifetime opportunity to purchase a majority interest in a bank in one of the world's fastest growing economies and combine it with a successful and growing insurance company in Digit and an established provider of investment banking and wealth management services in IIFL Capital.”
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(Note: All dollar amounts in this press release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS® Accounting Standards"), except as otherwise noted. This press release contains certain non-GAAP and other financial measures, including book value per share and cash and marketable securities, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See "Glossary of non-GAAP and other financial measures" at the end of this press release for further details.)
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