The firm had posted a web lack of Rs 2,281.55 crore in the year-ago similar quarter. Sequentially additionally, there was a web lack of Rs 63 crore in the December 2020 quarter.
Total consolidated revenue throughout January-March 2021 jumped to Rs 4,480.95 crore as towards Rs 1,965.87 crore in the year-ago interval, Edelweiss mentioned in a regulatory submitting.
For the complete monetary 12 months 2020-21, the non-banking monetary firm had a web profit of Rs 253.91 crore, in distinction to a lack of Rs 2,043.77 crore in 2019-20.
Total revenue for the 12 months rose to Rs 10,848.85 crore, towards Rs 9,602.63 crore a 12 months in the past, the corporate mentioned.
The firm’s board of administrators has accepted a closing dividend of Rs 0.55 per share. Total dividend for the 12 months stands at Rs 1.45 per share, it mentioned.
Edelweiss Financial Services Chairman and CEO Rashesh Shah mentioned the corporate’s enterprise has been resilient in these testing instances, and the charge revenue throughout the reported quarter is greater than pre-COVID-19 stage.
Customer property have grown 35 per cent year-on-year, demonstrating the belief of consumers. All the of the companies of the corporate are well-capitalised, with operationally impartial and sturdy efficiency and are poised for development, he mentioned.
“We concluded the stake sale in our wealth administration enterprise, at a valuation of Rs 4,400 crore, an endorsement of the standard of companies we have now constructed and the worth we have now created.
“We continued the transition to a capital light retail credit model with a focus on housing and SME businesses,” Shah mentioned.
He mentioned Edelweiss has scaled down its wholesale lending e-book considerably over the previous two years.
“We plan to further bring it down to half its size by FY23. We now have a stronger balance sheet with robust equity, lower debt and ample liquidity,” he added.