Edelweiss Financial profit rises 40%
Edelweiss reported a 32% rise in profit after tax to ₹51 crore for the March quarter
Mumbai: Edelweiss Financial Services Ltd reported full-year profit of ₹ 178 crore, up 40% for the financial year ended March, helped by a late rally in equities and increased investor activity.
The company’s full-year revenue was ₹ 2,184 crore, up 31% from the year-ago period. On a quarterly basis, Edelweiss reported a 32% rise in profit after tax to ₹ 51 crore for the quarter ended 31 March and revenue of ₹ 600 crore, up 25% from the year-ago period.
“Our long-term strategy to diversify across businesses, asset classes and client segments is bearing fruits. While our retail finance and retail capital markets business have broken even, the burn in insurance business is as per the plan,” Edelweiss chairman and CEO Rashesh Shah said in a company release.NextMAds
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First Published:15 May 2013, 11:03 PM IST
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