Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Edelweiss Financial Services Limited announces Q3FY19 results

Posted On: 2019-01-24 13:39:35

Edelweiss Financial Services Limited, India's leading diversified financial services company, declared its unaudited, limited reviewed results for the quarter ended 31st December 2018 today. In line with direction from Ministry of Corporate Affairs, Edelweiss Financial Services Limited has adopted Indian Accounting Standards (IndAS) with effect from 1st April 2018. Results of Q3FY19 are prepared and reported in compliance with IndAS requirements. Additionally, for the same quarter of previous year (Q3FY18), figures have been recasted as per IndAS requirements.

Q3FY19 Highlights:

- Total Revenue INR 2,791 cr (INR 2,224 cr for Q3FY18), up 25%
- Profit After Tax INR 226 cr (INR 235 cr for Q3FY18), down 4%
- Profit After Tax excluding Insurance INR 273 cr (INR 279 cr for Q3FY18), down 2%
- Return on Equity excluding Insurance for Q3FY19 is 15.60%
- Asset Base of the company ~INR 55,800 cr
- Group Gross Networth INR 8,785 cr

9MFY19 Highlights:

- Total Revenue INR 7,944 cr (INR 6,333 cr for 9MFY18), up 25%
- Profit After Tax INR 763 cr (INR 623 cr for 9MFY18), up 22%
- Profit After Tax excluding insurance INR 906 cr (INR 712 cr for 9MFY18), up 27%

Edelweiss is a large financial services firm with presence in India's most scalable and profitable sectors. Our various businesses address the needs of multiple client segments and demographics. During the last few years, several of Edelweiss' "young" businesses have gained ground while the mature businesses have scaled up into sustainable business models with increased market share in their respective segments.

The diversified revenue mix has helped us achieve improvement in our performance on a sustained basis despite volatile environment.

Speaking on the occasion, Mr. Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited said: "The volatility in the last few months tested our models, our systems, our assumptions and our organisation. I am proud to report that we emerged unscathed from this, without having to resort to any heroic measures. Our Liquidity Cushion and Other Liquid Assets (OLA) together helped us manage the liquidity environment while our diversified business model (Wealth & Asset Management, Credit, Insurance & Capital markets) helped us cushion impact on profits.

We have received strong funding support from all quarters with Banks and retail investors now contributing 63% of our liabilities. In continuance of our strategy that started as far back as FY15, on the liability side, we have reduced our dependence on CPs substantially, which is now at just 7%. Liquidity-wise, we currently have Rs 14,000 crores to fund our growth and meet all liabilities over next 3 years. We have always been prudent on the need to keep a liquidity cushion of around 12-13% of the borrowings." he added

"We as an organisation have always followed a strategy of focussing on long term sustainable growth rather than on short-term profitability management. This helped us emerge stronger after 2008 and again in 2013 taper effect and believe this time will be no different. We will in the next six months continue to strengthen focus on asset quality and liquidity, long term business and building customer value while we remain relentless on heightening our risk management and corporate governance practices, technology investments, building fool proof systems and processes across businesses and strengthening our leadership pipeline.

"Our key business highlight this quarter included the closure of India's largest distressed fund (EISAF II) at $1.3 billion by our Asset Management business and the marquee resolution of Binani Cement in our distressed credit business.

We remain confident of the India growth story, and the role that Edelweiss Financial Services will play in it."

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.160 as compared to the previous close of Rs. 163. The total number of shares traded during the day was 47723 in over 666 trades.

The stock hit an intraday high of Rs. 165.25 and intraday low of 160. The net turnover during the day was Rs. 7770860.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Confluence 2019 by Mahindra World City delves into 'Thinking Cities: The Rise of Resilience'

Uflex Honoured with 'Excellence in Packaging -Beverages' at The ET Polymers Awards 2019

Vikram Thermo India Ltd posts net profit of Rs. 0.60 crore in Q3

Lumax Auto Technologies Ltd updates on the PCB business

Robert Bosch Automotive Steering GmbH terminates JV agreement with ZF Steeting Gear India Ltd

Karnataka Bank bags ET Now - BFSI Awards

V-Mart Retail Ltd opens new store in Bihar, closes one

KPI Global bags order of 213.75KW Solar Power Plant under Captive Power Producer

Karnataka Bank shifts its Arehalli Branch to new premises on 16-02-2019

Shalby Hospitals Bestowed With Best IT Enabled Hospital Award 2019

PNC Infratech bags Rs.186 crore PWD road project in UP

Karnataka Bank opens its 838th Branch at Mysuru-Ramanuja Road on 16-02-2019

Ujaas Energy to launch E Scooter

Ground breaking Ceremony of Hooghly Cochin Shipyard Limited's New Yard Construction at Nazirgunge, Kolkata

Dr. Reddy's Laboratories Ltd receives EIR for Formulations Unit at Duvvada, Vizag

Karnataka Bank introduces 475 days special term deosit Scheme

Tech Mahindra Ltd board to consider buy back on Feb 21, 2019

Megasoft announces third quarter results for FY19

HCL Technologies and IBM Collaborate to Accelerate Clients' Hybrid Cloud Journey

Simplex Infra announces Q3FY19 results

Seya Industries Ltd 9MFY19: Sustained Momentum in Business

Alembic Pharmaceuticals announces USFDA Approval for Moxifloxacin Ophthalmic Solution USP 1 0.5%.

Gujarat Terce Laboratories Ltd launces Acolate Plus Tablet

BEML at Aero Show

HOCL approves proposal for sale of 8.08 acres land at Panvel

NIIT recognised as 'Best Training Institution' at the 9th Indian Education Congress at Awards 2019

Sonata Software completes acquisition of Sopris Systems LLC

Karda Constructions Limited announces 3QFY2019 results

Diligent Media Corporation Limited concludes sale of leasehold land for Rs. 57.32 crores

PNC launches streaming of movies on Netflix

Lupin launches Clobazam Oral Suspension, 2.5mg/ml

Technocraft Industries India Ltd opens operations in New Zealand

TRF Ltd approves issue of NCRPS to Tata Steel Ltd

Raminfo Q3 FY19 net profit increases 14.3% with revenue being Rs. 7.60 Crs

Paramount Communications Ltd bags order of Rs. 69.53 crores

ICRA assigns ratings to Nahar Industrial Enterprises Ltd

Sun Pharma returns product rights of Elepsia™ XR back to SPARC

NBCC India Ltd submits resolution plan for Jaypee Infratech Ltd

Lumax Industries Ltd announces setting up of in-house Electronic Facilities

IDFC FIRST Bank to sell stake in Digikredit

Karnataka Bank MD & CEO Shri Mahabaleshwara M S, conferred with 'CEO with HR Orientation Award'

Aanchal Ispat Ltd reports jump in Q3 PAT to Rs. 2.21 crores

Celestial Biolabs Ltd Q3 net profit slides to Rs. 0.07 crore

Donear Industries Ltd reports Q3 FY19 net profit of Rs. 5.14 crores

Mindteck Reports Financial Results for the Third Quarter Ending December 31, 2018

India Home Loan Ltd board approves fund raising proposal through warrants

Mangalore Chemicals & Fertilizers Ltd updates on annual maintenance

Zensar on the path of Rapid Innovation

ONGC board declares interim dividend of Rs. 5.25

Stovec Industries Ltd board recommends final dividend of Rs. 55







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019