Edelweiss reports PAT of Rs637cr for Q4FY21; Stock gains

The company declares a final dividend of Rs0.55 per share. The total Dividend for FY21 stands at Rs1.45 per share.

Jun 14, 2021 11:06 IST India Infoline News Service

Edelweiss Financial Services Ltd.
Edelweiss Financial Services Limited reported consolidated revenue of Rs4,481cr in the fourth quarter ended March 31, 2021, compared to Rs2,178cr during the same quarter, the previous year. Consolidated PAT stood at Rs637cr in Q$FY21 compared to a loss of Rs63cr in Q4FY20; Ex-Insurance PAT at Rs702cr. Fee Income above pre-Covid levels at Rs543cr.

For FY21, the Board of Directors have approved a Final Dividend of Rs0.55 per share. Total Dividend for the year stands at Rs1.45 per share. The company saw strong net worth at Rs8,542cr, Borrowings declined by 41% over FY19 levels.

“The year gone by has been unprecedented on various counts and the second Covid wave has made safeguarding lives and livelihoods even more critical. We continue to prioritize safety and wellbeing of our employees along with extending support to the vulnerable communities through our EdelGive Foundation,” Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited, said.

“Our businesses have been resilient in these testing times and the fee income this quarter is higher than pre –covid levels. Customer assets have grown 35% yoy demonstrating the continued trust of our customers. While the Alternatives, Asset Reconstruction and Wealth Management business have maintained their industry leadership, our Mutual Fund, Retail Credit are growing franchisees. The Life Insurance and digitally powered General Insurance business continued to grow and gain market share, while recoveries in ARC continue to be strong. All our businesses are well-capitalised, with operationally independent and robust platforms and are poised for growth,” Shah added.

At around 11.03 AM, Edelweiss Financial Services Ltd is currently trading at Rs72.85 per piece up by Rs0.4 or 0.55% from its previous closing of Rs72.45 per piece on the BSE. The company stock hit a day's high of Rs76.30 per piece early on. 

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