 "Edelweiss Financial Services net profit up 46% to Rs 2.5 billion")
Edelweiss Financial Services’ consolidated net profit for the fourth quarter ended March grew 46 per cent to Rs 2.48 billion, against Rs 1.7 billion in the corresponding quarter of the previous year.
On an annual basis, the financial institutions’ consolidated net profit grew to Rs 8.9 billion at the end of 2017-18, compared to Rs 6.09 billion in net profit earned at the end of 2016-17. The net profit, excluding the insurance business, grew 45 per cent to Rs 3 billion at the end of the fourth quarter (Q4) of 2017-18, against Rs 2.12 billion in Q4 of 2016-17.
Total revenue for Q4 of FY2018 is up 35 per cent, to Rs 26.23 billion as against Rs 19.45 billion in Q4 of FY2017. On an annual basis, total revenue for Edelweiss grew by 30 per cent to Rs 86.23 billion in FY2018 compared to Rs 66.34 billion in FY2017.
The company now has Assets Under Management (AUM) of around Rs 551 billion.
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