 "Edelweiss Financial hits 52-week high on strong Q3 results")
Edelweiss Financial Services has rallied 8% to Rs 75 on BSE after reporting a strong 43% year on year (yoy) growth in consolidated net profit for the third quarter ended December 31, 2014 at Rs 82.86 crore driven by increase in fee income and credit growth. The company had profit of Rs 57.80 crore in a year ago quarter.
Total income from operation during the quarter under review grew 50% at Rs 959 crore on yoy basis.
The asset quality of the overall credit book continued to remain under control with gross non-performing loans (NPLs) at 1.39% and net NPLs at 0.21% indicating a Provision Coverage Ratio (PCR) on NPLs of 85%.
Meanwhile, the board had declared an interim dividend of Re 0.80 per equity share of the face value of Re 1 each for the year 2014-15. The interim dividend will be credited/dispatched between February 10, 2015 and February 20, 2015.
The stock opened at Rs 70.30 and touched a 52-week high of Rs 76.65 on BSE. A combined two million shares changed hands on the counter till 0952 hours on BSE and NSE.
Total income from operation during the quarter under review grew 50% at Rs 959 crore on yoy basis.
The asset quality of the overall credit book continued to remain under control with gross non-performing loans (NPLs) at 1.39% and net NPLs at 0.21% indicating a Provision Coverage Ratio (PCR) on NPLs of 85%.
Meanwhile, the board had declared an interim dividend of Re 0.80 per equity share of the face value of Re 1 each for the year 2014-15. The interim dividend will be credited/dispatched between February 10, 2015 and February 20, 2015.
The stock opened at Rs 70.30 and touched a 52-week high of Rs 76.65 on BSE. A combined two million shares changed hands on the counter till 0952 hours on BSE and NSE.
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