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Stock Report
Edelweiss Financial Services Ltd Q4FY21 consolidated net profit at Rs. 628.63 crores
Posted On : 2021-06-11 21:07:54( TIMEZONE : IST )
Edelweiss Financial Services Ltd. has reported financial results for the period ended March 31, 2021.
Financial Results (Q4 FY20-21) - QoQ Comparison
The company has reported total income of Rs.4480.95 crores during the period ended March 31, 2021 as compared to Rs.2191.34 crores during the period ended December 31, 2020.
The company has posted net profit / (loss) of Rs.628.63 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(69.72) crores for the period ended December 31, 2020.
The company has reported EPS of Rs.6.86 for the period ended March 31, 2021 as compared to Rs.(0.78) for the period ended December 31, 2020.
| Financials | Q4 FY20-21 | Q3 FY20-21 | % Change |
| Total Income | ₹ 4480.95 crs | ₹ 2191.34 crs |  104.48% |
| Net Profit | ₹ 628.63 crs | ₹ (69.72) crs | 1001.65% |
| EPS | ₹ 6.86 | ₹ (0.78) | 979.49% |
Financial Results (Q4 FY20-21) - YoY Comparison
The company has reported total income of Rs.4480.95 crores during the period ended March 31, 2021 as compared to Rs.1965.87 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.628.63 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(2245.14) crores for the period ended March 31, 2020.
The company has reported EPS of Rs.6.86 for the period ended March 31, 2021 as compared to Rs.(25.24) for the period ended March 31, 2020.
| Financials | Q4 FY20-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 4480.95 crs | ₹ 1965.87 crs | 127.94% |
| Net Profit | ₹ 628.63 crs | ₹ (2245.14) crs | 128% |
| EPS | ₹ 6.86 | ₹ (25.24) | 127.18% |
Financial Results (Year ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.10848.85 crores during the 12 months period ended March 31, 2021 as compared to Rs.9602.63 crores during the 12 months period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.265.33 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.(2045.24) crores for the 12 months period ended March 31, 2020.
The company has reported EPS of Rs.2.97 for the 12 months period ended March 31, 2021 as compared to Rs.(23.01) for the 12 months period ended March 31, 2020.
| Financials | Year Ended FY20-21 | Year Ended FY19-20 | % Change |
| Total Income | ₹ 10848.85 crs | ₹ 9602.63 crs | 12.98% |
| Net Profit | ₹ 265.33 crs | ₹ (2045.24) crs | 112.97% |
| EPS | ₹ 2.97 | ₹(23.01) | 112.91% |
Speaking on the occasion, Mr. Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited said: "The year gone by has been unprecedented on various counts and the second Covid wave has made safeguarding lives and livelihoods even more critical. We continue to prioritize safety and wellbeing of our employees along with extending support to the vulnerable communities through our EdelGive Foundation.
Our businesses have been resilient in these testing times and the fee income this quarter is higher than pre-covid levels. Customer assets have grown 35% yoy demonstrating the continued trust of our customers. While the Alternatives, Asset Reconstruction and Wealth Management business have maintained their industry leadership, our Mutual Fund, Retail Credit are growing franchisees. The Life Insurance and digitally powered General Insurance business continued to grow and gain market share, while recoveries in ARC continue to be strong. All our businesses are well-capitalised, with operationally independent and robust platforms and are poised for growth.
As planned, our focus for FY21 has been on consolidation, fortification, and strengthening with three clear priorities. We concluded the stake sale in our Wealth Management business, at a valuation of INR 4,400 Cr - an endorsement of the quality of businesses we have built and the value we have created. We continued the transition to a capital light retail credit model with a focus on Housing and SME businesses. We have scaled down our wholesale lending book significantly over the last two years and we plan to further bring it down to half its size by FY23. We now have a stronger balance sheet with robust equity, lower debt and ample liquidity.
With the second wave of Covid 19 and the vaccination drive, FY22 comes with both uncertainty and hope. During the year, we will continue to focus on strengthening balance sheet and liquidity; Invest in our retail credit, asset management and Insurance businesses and progress on the EWM demerger, in preparation for listing by Q3FY23, thereby unlocking value for our shareholders. Robust equity, comfortable liquidity and agile operating platforms will give us a solid foundation as we look towards economic revival and growth in the years ahead."
Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.72.45 as compared to the previous close of Rs. 73.95. The total number of shares traded during the day was 712467 in over 4434 trades.
The stock hit an intraday high of Rs. 77.2 and intraday low of 70.55. The net turnover during the day was Rs. 52722419.
