Edelweiss Financial Q1 net profit jumps 53% to Rs 139 cr

Edelweiss Financial Services on Tuesday reported a rise of 53% in its consolidated net profit at Rs 139.68 crore for the first quarter ended June 30, 2016.

The company's net profit in the corresponding quarter of 2015-16 had stood at Rs 91.28 crore.

"Total income increased to Rs 1,472.18 crore for the quarter ended June 2016 as against Rs 1,158.78 crore in the same period a year ago," the company said in a BSE filing.

On standalone basis, the company said its net profit fell by 61% to Rs 11.52 crore in the June quarter of 2016-17 from Rs 29.57 crore in the corresponding quarter of previous fiscal.

Standalone income increased to Rs 92.88 crore for the quarter from Rs 75.09 crore.

Edelweiss Group is a diversified financial services company with presence in retail segments through life insurance, housing finance, mutual fund and retail financial markets.

Shares of the company were trading 1.62% down at Rs 106.00 on BSE.