Edelweiss Financial reported -17.47% fall in total operating revenues for the Dec-20 quarter on consolidated basis at Rs2,178.54cr. The interest income saw a 34% fall on a yoy basis in the Dec-20 quarter on account of lower interest yields and a conscious decision to lighten the asset book. Fee income was also sharply down but was partly made up by higher insurance income and higher net gains on fair value changes.
For the Dec-20 quarter, Edelweiss dipped into net loss of Rs.-69.72cr on account of higher actuarial liability as per internal risk assessment. The company has also decided to shift to a more asset light kind of model so as to give a boost to its return on equity in the next few quarters. PAT margins, obviously dipped into negative for second quarter in succession.
Financial highlights for Dec-20 compared yoy and sequentially
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Edelweiss Financial |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 2,178.54 |
₹ 2,639.65 |
-17.47% |
₹ 2,222.82 |
-1.99% |
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Net Profit (Rs cr) |
₹ -69.72 |
₹ 16.71 |
-517.24% |
₹ -48.50 |
43.75% |
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Diluted EPS (Rs) |
₹ -0.78 |
₹ 0.18 |
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₹ -0.55 |
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Net Margins |
-3.20% |
0.63% |
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-2.18% |
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