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

| More

Edelweiss Financial Services Ltd Q2FY21 consolidated loss at Rs. 48.50 crore

Posted On: 2020-10-30 08:48:16 (Time Zone: Arizona, USA)


Edelweiss Financial Services Ltd. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.2256.88 crores during the period ended September 30, 2020 as compared to Rs.1919.68 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(48.50) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.(245.08) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(0.55) for the period ended September 30, 2020 as compared to Rs.(2.75) for the period ended June 30, 2020.

FinancialsQ2 FY20-21Q1 FY20-21% Change
Total Income₹ 2256.88 crs₹ 1919.68 crsUp Tick 17.57%
Net Profit₹ (48.50) crs₹ (245.08) crsDown Tick -80.21%
EPS₹ (0.55)₹ (2.75)Down Tick -80%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.2256.88 crores during the period ended September 30, 2020 as compared to Rs.2405.24 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(48.50) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.51.17 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.(0.55) for the period ended September 30, 2020 as compared to Rs.0.57 for the period ended September 30, 2019.

FinancialsQ2 FY20-21Q2 FY19-20% Change
Total Income₹ 2256.88 crs₹ 2405.24 crsDown Tick -6.17%
Net Profit₹ (48.50) crs₹ 51.17 crsDown Tick -194.78%
EPS₹ (0.55)₹ 0.57Down Tick -196.49%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.4176.56 crores during the 6 months period ended September 30, 2020 as compared to Rs.4987.20 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(293.58) crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.183.19 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.(3.30) for the 6 months period ended September 30, 2020 as compared to Rs.2.04 for the 6 months period ended September 30, 2019.

FinancialsHalf-Year Ended FY20-21Half-Year Ended FY19-20% Change
Total Income₹ 4176.56 crs₹ 4987.20 crsDown Tick -16.25%
Net Profit₹ (293.58) crs₹ 183.19 crsDown Tick -260.26%
EPS₹ (3.30)₹2.04Down Tick -261.76%
Q2FY21 Key Highlights:

- P&L highlights - consolidated: Total Income INR 2,257 Cr and PAT INR (49) Cr (PAT ex-Insurance INR 7 Cr)

- Group Net Worth: INR 8,093 Cr1

- Customer Assets: ~INR 2,49,100 Cr (~INR 2,23,000 in Q1FY21)

- Continued reduction in Debt Equity Ratio (Ex Treasury Assets) which is currently at 3.1x (3.2x in Q1FY21). Borrowings at INR 30,845 Cr2 - a reduction of ~40% over H1FY19 levels

- Sequential improvement in capital adequacy at key operating entity levels

- Liquidity remains comfortable at ~INR 6,600 Cr (21% of borrowings)

- Edelweiss Asset Management registered a strong AUM growth of 105% yoy and completed the largest fund raise in the year in the Indian Private Credit space - a strong validation of capabilities of the platform

* Closed ESOF III at $900 mn (~INR 6,600 Cr)
* Generated strong investor interest and received commitments from marquee global institutional investors which include Ontario Teachers' Pension Plan Board, Florida's State Board of Administration, Swedish Pension Fund - AP4 and a large European insurance company

- Collection efficiency returning to normalcy. ECL Finance Ltd., Edelweiss Retail Finance Ltd. and Edelweiss Housing Finance Ltd. reported collection efficiency of 94%, 92% and 91% respectively in Sep 2020

- Recoveries in Asset Reconstruction were INR 965 Cr despite current market environment

- Achieved average fixed cost reduction of 23% in Q2FY21 against average FY20 fixed costs through enhanced cost discipline

Speaking on the occasion, Mr. Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited said: "Q2 FY21 has been a quarter of continued advancement in line with our stated strategy to emerge fully future-ready to participate in the post Covid economic recovery. In this year of re-set, we have made meaningful progress on our stated near-term priorities in each of our seven businesses.

We have had sustained improvement in our four focus areas across the Group: The balance sheet is stronger with a reduction in Debt to Equity ratio and borrowings, Liquidity has improved to 21% of the borrowings, Asset quality remains under control and we have reduced our average fixed cost base.

Our leadership in Asset management has been reaffirmed with the $900mn closure of our alternative ESOF III fund. We also successfully closed the second series of Bharat Bond ETF in our Mutual Fund business. Our Customer Assets have been growing well both in Asset Management and Wealth Management. We are seeing a good pick-up in collections with retail collection efficiency crossing 90% levels in September for our lending entities. In ARC also, we have witnessed strong recoveries despite the challenging market environment. Life Insurance and General Insurance remain two of the fastest growing insurers throughout the pandemic.

The EWM demerger process is under way and on plan. We expect to receive regulatory and lender's approvals for the PAG transaction by Q4FY21.

Throughout FY21 we will continue to strengthen our ability to create value in each of our businesses, and progressively unlock value for the benefit of all shareholders."
Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.56 as compared to the previous close of Rs. 55.9. The total number of shares traded during the day was 37530 in over 556 trades.

The stock hit an intraday high of Rs. 56.5 and intraday low of 55.2. The net turnover during the day was Rs. 2094661.


Source: Equity Bulls

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





Other Headlines:

Subex Ltd board to consider Q3 results, dividend on Feb 1, 2021

Adani Ports and Special Economic Zone Limited Commences Cash Tender Offer for Any and All of its US$500,000,000 3.95% Senior Notes due 2022

Ircon International Ltd cancels tender awarded to H G Infra Engineering ltd

Central Bank of UAE imposes sanction of Rs. 13.56 crores approx. on Bank of Baroda, GCC Operations

Sangam Renewables Ltd bags multiple solar power EPC projects

IndiGo sends heartfelt gesture to 5000 nominated frontline workers under Tough Cookie campaign

Aarnav Fashions Ltd Q3 net profit at Rs. 0.85 crore

Ganesha Ecosphere Ltd reports Rs. 20.10 crore consolidated PAT in Q3 FY2020-21

RPG Life Sciences Ltd posts higher PAT of Rs. 12.87 crore in Q3FY21

Datamatics wins the Market Research Society of India (MRSI) Golden Key Awards 2020

CRISIL reaffirms ratings of Vardhman Special Steels Limited, revises outlook

UCO Bank announces Financial Results for the Quarter Ended 31st December 2020

Dr. Lalit Kanodia Laureate Award for Technological Excellence 2020 awarded to VTION

Dr. Agarwals Eye Hospital Ltd reports PAT of Rs. 4.43 crore in Q3FY21

Wipro appoints Douglas Silva as Country Head for Brazil

Precision Camshafts Limited receives award from the IPF Industrial Excellence Forum 2021

L&T Q3FY21 consolidated PAT at Rs. 2466.71 crore

ICICI Securities Ltd posts Rs. 267.02 crore consolidated PAT in Q3 FY2020-21

Benares Hotels Ltd Q3 PAT at Rs. 0.54 crore

Navin Fluorine International Ltd Q3FY21 consolidated PAT at Rs. 56.44 crore

CG-VAK Software & Exports Ltd Q3FY21 consolidated PAT climbs to Rs. 1.74 crore

TCS' AI-powered Merchandise Optimization Suite Optumera™ Honored by AIconics Awards

KIFS Financial Services Ltd Q3FY21 PAT at Rs. 0.40 crore

Astec LifeSciences Ltd Q3 consolidated PAT slides to Rs. 7.05 crore

Agro Tech Foods Limited restarts commercial production

CARE maintains rating of TGV SRAAC Ltd

Mahindra Holidays & Resorts India Limited announces results for the quarter ended 31stDecember 2020

Can Fin Homes Ltd Q3 FY2020-21 net profit up at Rs. 131.91 crore

Genus Paper & Boards Ltd Q3FY21 net profit at Rs. 4.15 crore

Chennai Petroleum Corporation Ltd Q3FY21 consolidated loss at Rs. 546.41 crore

Sharda Cropchem Ltd Q3FY21 consolidated PAT jumps to Rs. 48.30 crore

Natural Capsules Ltd reports consolidated PAT of Rs. 1.62 crore in Q3FY21

TGV Sraac Ltd reports lower Q3FY21 net profit of Rs. 9.85 crore

Aarti Drugs Ltd Q3FY21 consolidated PAT drops QoQ to Rs. 68.04 crore

Lakshmi Electrical Control Systems Ltd Q3FY21 net profit at Rs. 0.0875 crore

PG Electroplast Ltd Q3FY21 net profit rises to Rs. 6.49 crore

Kirloskar Ferrous Industries Ltd Q3 net profit jumps to Rs. 118.32 crore

Stylam Industries Ltd reports Rs. 12.46 crore consolidated PAT in Q3FY21

Vinyl Chemicals India Ltd posts Rs. 4.83 crore PAT in Q3 FY2020-21

APL Apollo Tubes Ltd Q3FY21 consolidated PAT higher at Rs. 132.04 crore

Thomas Cook India inks strategic agreement with Destination Maldives

PNC Infratech Limited receives LOAs for Six New Rural Drinking Water Supply Projects on EPC mode for an aggregate value of Rs. 2475.00 crore

Arihant Capital Markets Ltd posts consolidated PAT of Rs. 8.94 crore in Q3FY21

Kotak Mahindra Bank posts Rs. 2575.74 crores consolidated PAT in Q3 FY2020-21

Shri Jagdamba Polymers Ltd Q3 net profit jumps to Rs. 11.35 crore

UCO Bank Q3FY21 PAT at Rs. 35.44 crore

DCW Limited board approves fund raising through warrants

Lupin Receives approval for Sevelamer Carbonate Tablets

Strides receives USFDA approval for Ursodiol Capsules

Kiri Industries Limited starts commercial production of Specialty Intermediates at Vadodara Palnt



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

disclaimer copyright © 2005 - 2020