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Edelweiss Fin Services Q1 net profit rises 37% to Rs 264 cr

Edelweiss Fin Services Q1 net profit rises 37% to Rs 264 cr

PTI Last Updated at 07 Aug 2018, 21:08 IST India

Edelweiss Financial Services today registered a 31 per cent rise in its consolidated net profit to Rs 264 crore in the first quarter ended June 30.

The company had reported Rs 203 crore net profit in the year-ago period.

The total revenue increased by 19 per cent to Rs 2,481 crore compared to Rs 2,079 crore in the same period last year.

Asset base of the company stood at Rs 61,800 crore as on June 30, 2018, Edelweiss Financial Services said in a release.

"Q1 FY19 has been good for Edelweiss with strong growth in both consolidated as well as ex-insurance PAT. Our consolidated PAT stood at Rs 264 crore with a year-on-year growth of 31 per cent," Edelweiss Financial Services Limited Chairman and CEO Rashesh Shah said.

Edelweiss' PAT has grown consistently at a CAGR of 38 per cent for over 29 quarters, showcasing a strong vindication of our bank-like diversified model which gives us consistent profitability in a capital-efficient manner, Shah said.

Shares of Edelweiss Financial Services closed 1.73 per cent up at Rs 327.10 per unit on BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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