 "Edelweiss profit rises on non-broking income")
Edelweiss Financial Services, which runs one of the country’s largest broking operations, has recorded a quarterly rise of seven per cent in revenue and five per cent rise in profit for the quarter ended March, largely on the back of non-broking operations.
Securities broking made up about six per cent of the revenue for 2013-14.
Capital-based operations contributed three-fourths of its consolidated quarterly revenue and 94 per cent of its consolidated quarterly profit before tax.
The capital-based segment comprises wholesale financing, investment income and treasury operations.
Break-up
A break-up of its revenue shows the agency segment, which includes the broking business as well as advisory, distribution and other fee-based services, accounted for 16 per cent of total consolidated revenue and 23 per cent of consolidated profit before tax.
“Our long-term strategy of diversifying across businesses, asset classes and client segments continues to stand us in good stead, as demonstrated by the constant improvement in our financial and business indicators. Increasingly, our profits are being contributed by multiple businesses and we have reduced concentration risk in this in our efforts to make the profits more sustainable,” said Rashesh Shah, chairman and chief executive, in a statement following the results on Saturday.
The consolidated revenue was up eight per cent over the past quarter and 16 per cent over the corresponding period last year, to Rs 699 crore.
Dividend
The profit after tax for the March quarter was Rs 61 crore, up five per cent over the past quarter and 19 per cent over March last year.
Its total net profit after taxes available to shareholders for the year was Rs 220 crore for 2013-14 on a revenue of Rs 2,534 crore.
The board of directors recommended a dividend of 15 paise a share, according to the company statement.
Securities broking made up about six per cent of the revenue for 2013-14.
Capital-based operations contributed three-fourths of its consolidated quarterly revenue and 94 per cent of its consolidated quarterly profit before tax.
The capital-based segment comprises wholesale financing, investment income and treasury operations.
Break-up
A break-up of its revenue shows the agency segment, which includes the broking business as well as advisory, distribution and other fee-based services, accounted for 16 per cent of total consolidated revenue and 23 per cent of consolidated profit before tax.
“Our long-term strategy of diversifying across businesses, asset classes and client segments continues to stand us in good stead, as demonstrated by the constant improvement in our financial and business indicators. Increasingly, our profits are being contributed by multiple businesses and we have reduced concentration risk in this in our efforts to make the profits more sustainable,” said Rashesh Shah, chairman and chief executive, in a statement following the results on Saturday.
The consolidated revenue was up eight per cent over the past quarter and 16 per cent over the corresponding period last year, to Rs 699 crore.
Dividend
The profit after tax for the March quarter was Rs 61 crore, up five per cent over the past quarter and 19 per cent over March last year.
Its total net profit after taxes available to shareholders for the year was Rs 220 crore for 2013-14 on a revenue of Rs 2,534 crore.
The board of directors recommended a dividend of 15 paise a share, according to the company statement.