Edelweiss Fin Q4 net up 45%

Edelweiss Financial Services today reported 45 per cent rise in its net profit at Rs 88 crore for the fourth quarter ended March 31, 2015.

The company had posted a net profit of Rs 61 crore in the corresponding quarter of 2013-14.

Total revenue jumped 74 per cent at Rs 1,215 crore during the quarter under review from Rs 699 crore in the year ago period.

For the full fiscal ending March 2015, net profit rose by 49 per cent to Rs 329 crore from Rs 220 crore for fiscal ended March 2014.

Total income during the fiscal jumped 53 per cent to Rs 3,912 crore from Rs 2,556 crore in 2013-14.

As of March 31, 2015, the company's asset base stood at Rs 27,000 crore.

Diversification strategy and focus on scaling up businesses, improving efficiency and productivity, strengthening balance sheet, risk management and compliance have resulted in significant growth in revenues and net profit, the company said in a statement.

"FY15 saw market sentiments improving and optimism about gradual return of growth setting in. Liquidity continued to be comfortable during the year... We believe that with macro-economic indicators improving, we may see return of growth in the second half of FY16," said Edelweiss Financial Chairman and CEO Rashesh Shah.

Besides, the company has recommenced a dividend of Rs 1 per share for FY15.

Its shares were trading 3.60 per cent down at Rs 61.60 apiece on the BSE.