Edelweiss books Rs 2,819 cr pre-tax loss in Q4 on spike in provisions

Plans to bring PE as investor in wealth & asset mgt business; raise up to $200 mn in equity

Edelweiss Financial Services (EFSL) has posted a pre-tax loss of Rs 2,818.9 crore for the fourth quarter ended March 2020, on an increase in provisions for impairment on loans and financial instruments.

It had reported a profit before tax of Rs 405.6 crore in the fourth quarter ended March 2019 (Q4FY19).

EFSL has posted a net loss of Rs 2,281.5 crore in Q4FY20, as against a net profit of Rs 246.3 crore in the year-ago period. Its net loss for FY20 stood at Rs 2,043.7 crore, against a