Moneycontrol
Last Updated : Aug 08, 2018 09:25 AM IST | Source: Moneycontrol.com

Edelweiss Financial Services shares fall 5% despite decent June quarter earnings

Consolidated profit grew by 17.3 percent year-on-year to Rs 263.3 crore in the first quarter ended June against Rs 224.4 crore in year-ago period.

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Edelweiss Financial Services share price fell as much as 5 percent in the morning on Wednesday after the company reported decent set of earnings for the quarter ended June 2018.

Consolidated profit grew by 17.3 percent year-on-year to Rs 263.3 crore in the first quarter ended June against Rs 224.4 crore in year-ago period.

Revenue from operations increased by 17.7 percent to Rs 2,435.5 crore year-on-year.

Asset base of the company stood at Rs 61,800 crore as on June 30, 2018, Edelweiss Financial Services said in a release.

"Q1 FY19 has been good for Edelweiss with strong growth in both consolidated as well as ex-insurance PAT. Our consolidated PAT stood at Rs 264 crore with a year-on-year growth of 31 percent," Edelweiss Financial Services Limited Chairman and CEO Rashesh Shah said.

Edelweiss' PAT has grown consistently at a CAGR of 38 percent for over 29 quarters, showcasing a strong vindication of our bank-like diversified model which gives us consistent profitability in a capital-efficient manner, Shah said.

EBITDA (earnings before interest, tax, depreciation and amortisation) rose 14.7 percent to Rs 1,513.7 crore but margin contracted 160 basis points to 62.2 percent in Q1 YoY.

At 09:15 hours IST, the stock price was quoting at Rs 313.00, down Rs 14.10, or 4.31 percent on the BSE.
First Published on Aug 8, 2018 09:25 am
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