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Edelweiss Financial Services on Tuesday reported a 17 per cent rise in its consolidated net profit at Rs 91 crore for the quarter ended June, on the back of an overall increase in income. Total revenue rose to Rs 1,168 crore, up 43 per cent during the reporting period driven primarily by the growth in its retail lending business.
The asset quality of the overall credit book continued to remain under control with gross NPAs at 1.32 per cent and net NPAs at 0.39 per cent. Provision coverage ratio including provisions on standard assets stood at 97 per cent. Total credit book soared 72 per cent to Rs 16,431 crore driven by growth in mortgages, including housing finance, loan against property and real estate finance, structured collateralised credit to corporates, distressed assets credit, SME and agri finance, and loan against securities.
