Edelweiss Financial Services today reported a 38 per cent increase in consolidated net profit at Rs 122 crore for the March quarter.
The company had posted a net profit of Rs 88 crore in the corresponding January-March quarter of 2014-15.
Revenue of the company rose by 27 per cent to Rs 1,538 crore during the last quarter of 2015-16 from Rs 1,215 crore a year ago, the company said in a regulatory filing.
For full 2015-16 fiscal, the firm reported a rise of 26 per cent in its net profit at Rs 414 crore compared with Rs 329 crore in previous fiscal.
During the fiscal, total revenue grew by 36 per cent at Rs 5,316 crore, from Rs 3,912 crore in 2014-15.
"FY16 saw market sentiment improving led by optimism around the gradual return of growth. We are seeing some amount of consumer spending coming back as well as growth in credit accompanied by the expected cleanup of stressed asset portfolio that has been built up," Rashesh Shah, Chairman and CEO of Edelweiss Financial Services said.
The Asset Quality Review process started by the RBI is very positive for the economy and marks the beginning of the end of the NPA issue, he said.
Edelweiss Group is one of India's leading diversified financial services company that provides a broad range of financial products and services corporations, institutions and individuals.
Edelweiss Financial Services stock today closed 1.52 per cent up at Rs 60 apiece on BSE.
Beside, the company said its Board of Directors today approved the issuance of non-convertible debentures for an amount not more than Rs 2,500 crore on a private placement basis.
The company would raise the money in one or more tranches, it added.
Further, the board has re-appointed Rujan Panjwani as the Executive Director of the company for a period of 5 years.
The effective date is from June 24, 2016, subject to the approval of the members of the company, it said.
