- News>
- Economy
Edelweiss consolidated net falls to Rs 127 crore on lower revenue
Its revenue fell to Rs 1,887.3 crore from Rs 2,191.3 crore a year ago but did not offer any reason for the decline in both topline and bottomline.
Highlights
- The company said the numbers are excluding those of the insurance verticals without sharing the same.
- Its revenue fell to Rs 1,887.3 crore from Rs 2,191.3 crore a year ago but did not offer any reason for the decline in both topline and bottomline.
- While retail collection efficiency was at 98 per cent, in housing finance and SME loans it was only 93 per cent, the company said.
New Delhi: Edelweiss Financial Services on Monday reported a consolidated net profit of Rs 127.4 crore for the December quarter, down from Rs 135.2 crore in the same period previous year as its revenue fell during the quarter.
The company said the numbers are excluding those of the insurance verticals without sharing the same.
Its revenue fell to Rs 1,887.3 crore from Rs 2,191.3 crore a year ago but did not offer any reason for the decline in both topline and bottomline.
Its credit businesses reported a net income of Rs 37 crore, as the company could maintain asset quality and did only conservative lending with disbursements touching Rs 400 crore of which Rs 100 crore were from securitized in housing loans during the quarter.
While retail collection efficiency was at 98 per cent, in housing finance and SME loans it was only 93 per cent, the company said.
Its asset reconstruction arm, Edelweiss ARC, which is the industry leader, saw good recoveries which touched Rs 2,500 crore in the quarter, of which Rs 200 crore were from retail portfolio.
During the reporting period the company acquired assets worth Rs 1,200 crore. The share of retail assets grew fivefold annualized and currently stands at 11 per cent of capital employed.
#mute