Money & Banking

Edelweiss Financial Services posts net profit of Rs 637 crore in Q4

Our Bureau Mumbai | Updated on June 13, 2021

Edelweiss Financial Services posted a net profit of Rs 253.91 crore for the full fiscal 2020-21

Edelweiss Financial Services posted a consolidated net profit of Rs 636.7 crore in the fourth quarter of 2020-21 as against a net loss of Rs 2,281.55 crore in the corresponding quarter a year ago.

It registered a net profit of Rs 253.91 crore for the full fiscal 2020-21 versus a loss of Rs 2,043.77 crore in 2019-20.

Total consolidated income for the quarter ended March 31, 2021 jumped to Rs 4,480.95 crore as against Rs 1,965.87 crore in the same period in the previous fiscal, Edelweiss said in a regulatory filing.

“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 the third quarter of 2022-23, 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,” said Rashesh Shah, Chairman and CEO, Edelweiss Financial Services.

The board has recommended a final dividend of Rs. 0.55 per share on the equity shares of the face value of Rs 1 each, subject to the declaration by the members at the forthcoming Annual General Meeting.

Published on June 12, 2021

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