Edelweiss Capital has declared its third quarter results. The company's Q3 net profit was up at Rs 29.4 crore versus Rs 26.3 crore, quarter-on-quarter, QoQ.
Edelweiss Capital has declared its third quarter results. The company's Q3 net profit was up 11.78% at Rs 29.4 crore versus Rs 26.3 crore, quarter-on-quarter, QoQ.
Its total income was up 22.31% at Rs 455 crore versus Rs 372 crore, QoQ.
Edelweiss has achieved significant topline growth in the third quarter which reflects the business diversification that Edelweiss has been striving for, though the bottomline growth continues to be challenged due to a combination of external and internal factors.
These include tough environment leading to marked slowdown in activity levels, continuing investments in incubating new businesses - life insurance and retail businesses and depreciation on new office property. Collective impact of these at profit after tax level is about Rs 12 cr in the third quarter.
Speaking on the occasion, Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited said: