Edelweiss Financial Services Q3 net profit down 4% at Rs 226 crore

The net profit is expected to grow by 15 per cent in FY19 over the base of FY18

Edelweiss Financial Services’s consolidated net profit dipped by 4 per cent to Rs 226 crore for third quarter ended December 2018 (Q3Fy19) as against Rs 235 crore in the same quarter of FY18. Rashesh Shah, chairman and chief executive officer, Edelweiss Financial Services, said the fall in net profit reflects an increased cost of holding liquid assets. 

The company adopted cautious stance (to hold more cash on hand) at time when financial markets witnessed resource crunch in third quarter after IL&FS group entities defaulted on repayments.  

The net profit is expected to grow by 15 per cent in FY19 over the base