Edelweiss Financial Services posts 2% YoY rise in Q3 PAT; board approves raising ₹1,000 cr via NCDs

Edelweiss Financial Services Q3 Results: Edelweiss Financial Services Ltd announced its October to December quarter results on February 7. The company recorded a 2 per cent rise in net profit to ₹155.18 crore in the third quarter of the financial year 2024-25, compared to ₹152.28 crore in the same quarter a year ago. 

The financial services company's net interest income for the October to December quarter rose 2.4 per cent to ₹733 crore, compared year-on-year (YoY) with ₹716 crore in the same quarter of the previous financial year.

However, the firm's total revenue from operations dropped nearly 20 per cent to ₹1,928 crore, compared to ₹2,398 crore in the same period a year ago. Considering the fall in revenue, the firm still witnessed a rise in profits due to the fall in total expenses.

The total expenses of the firm dropped 22 per cent to ₹1,815 crore, compared to ₹2,325 crore in the same quarter of the previous financial year.

Edelweiss Fundraising Plans

The firm's board of directors approved a fundraising plan of up to ₹1,000 crore via the public issue of Non-convertible Debentures (NCDs) in one or more segments, according to the exchange filling.

The board of directors approved “raising funds by way of public issue of Non-convertible Debentures for an amount not exceeding Rs. 1,000 crores, in one or more tranches,” said the company in the BSE filing. 

Edelweiss Share Price

Edelweiss Financial Services Ltd shares were trading 4.54 per cent lower at ₹112.45 in the afternoon session of Friday's market, compared to ₹117.80 at the previous stock market close.

Shares hit their 52-week high level at ₹145.50 on September 30, 2024, while their 52-week low level was at ₹59.40 on July 23, 2024, according to BSE data. The market capitalisation of the firm was at ₹10,651.12 crore on February 7.

Edelweiss Financial Services shares have given investors nearly 24 per cent returns in the last five years and 59 per cent returns in the last one-year period. However, the shares are trading 9.42 per cent lower on a year-to-date (YTD) basis.

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