Edelweiss Financial Services Ltd Q4 consolidated loss at Rs. 2245.14 crore

Edelweiss Financial Services Ltd. has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.1965.87 crores during the period ended March 31, 2020 as compared to Rs.2649.56 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.(2245.14) crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.16.71 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.(25.24) for the period ended March 31, 2020 as compared to Rs.0.18 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 1965.87 crs	₹ 2649.56 crs	-25.8%
Net Profit	₹ (2245.14) crs	₹ 16.71 crs	-13535.91%
EPS	₹ (25.24)	₹ 0.18	-14122.22%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.1965.87 crores during the period ended March 31, 2020 as compared to Rs.3041.20 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.(2245.14) crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.232.39 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.(25.24) for the period ended March 31, 2020 as compared to Rs.2.58 for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 1965.87 crs	₹ 3041.20 crs	-35.36%
Net Profit	₹ (2245.14) crs	₹ 232.39 crs	-1066.11%
EPS	₹ (25.24)	₹ 2.58	-1078.29%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.9602.63 crores during the 12 months period ended March 31, 2020 as compared to Rs.11161.22 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.(2045.24) crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.995.17 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.(23.01) for the 12 months period ended March 31, 2020 as compared to Rs.11.09 for the 12 months period ended March 31, 2019.

Financials	Year Ended FY19-20	Year Ended FY18-19	% Change
Total Income	₹ 9602.63 crs	₹ 11161.22 crs	-13.96%
Net Profit	₹ (2045.24) crs	₹ 995.17 crs	-305.52%
EPS	₹ (23.01)	₹11.09	-307.48%

Speaking on the occasion, Mr. Rashesh Shah, Chairman and CEO, Edelweiss Financial Services Limited said: "The last eight quarters have been challenging ones for the financial services industry. A slowing economy was further weakened by the COVID-19 crisis. I am proud of the resilience we have showed in such testing times. I attribute our adaptability as an organisation to our diversified business model. So even when one of our businesses battle sustained headwinds, our other three businesses continued more or less BAU. Throughout this year, our liquidity has been adequate, and our capital base more than adequate.

In this quarter, we have taken three conscious decisions based on our experience and that of our Board: the markdown and sell-down of our corporate asset book, accelerating to capital light model in retail credit, and the proposed equity raise at Edelweiss and in our Wealth & Asset Management business. These measures will further strengthen both our balance sheet and our dominant franchises. As the economy recovers over the next few quarters, our businesses will be well-poised to grow strongly."

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.60.5 as compared to the previous close of Rs. 60.55. The total number of shares traded during the day was 335757 in over 2537 trades.

The stock hit an intraday high of Rs. 62.55 and intraday low of 59.55. The net turnover during the day was Rs. 20617840.

Source : Equity Bulls

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