Edelweiss Financial Q2 profit rises 72% to Rs 79.2 cr

Written By Unknown on Jumat, 17 Oktober 2014 | 20.07

"The diversified revenue mix has successfully helped in achieving improvement in performance on a sustained basis despite volatile environment," said the company in its filing.

Moneycontrol Bureau

Edelweiss Financial Services  has reported a 72 percent rise in second quarter consolidated net profit at Rs 79.2 crore compared to Rs 46.08 crore in same quarter last year due to pick up in capital markets business. Sequential growth in bottomline was 1.3 percent.

Total income from operations grew by 57 percent to Rs 915 crore in the quarter ended September 2014 from Rs 584 crore in corresponding quarter of last fiscal.

"The diversified revenue mix has successfully helped in achieving improvement in performance on a sustained basis despite volatile environment," said the company in its filing.

Fund based income (including housing finance business, commodities business and balance sheet management unit operations) jumped 59 percent to Rs 738 crore in Q2FY15 from Rs 465 crore in Q2FY14.

Fee and commission income (from broking, corporate finance advisory, asset management, wealth advisory businesses and fees from credit business) ) rose to Rs 127 crore in second quarter of current financial year 2014-15, up 45 percent compared to Rs 88 crore in same quarter last year.

Gross premium income from life insurance business was Rs 42 crore, up 77 percent from Rs 24 crore during the same period.


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