Edelweiss Financial Q3 Results: Net profit down by 93% to Rs 17 crore
Edelweiss Financial Q3 Results: Edelweiss Group provides investment and financial services located in Mumbai. The parent company of the group is “Edelweiss Financial Service Limited” founded by Rashesh Shah, CEO and Chairman of the company.
The company on Friday reported its consolidated net profit decreased by 92.61% Year-on-Year (YOY) of Rs 16.71 crore for the period ended on December 31, 2019. However, the company also posted its consolidated net profit of Rs 226.11 crore in the same quarter last financial year.
Whereas, the company’s total revenue growth from operations reported by 8.41% Year-on-Year (YoY) decrease to Rs 2,639.65 crore in the quarter ended on December 31, 2019. The expenses of the company also increased to Rs 2,598.06 crore in the quarter ended on December 31, 2019.
The early trends in the stock market on Friday, are bearish for the firm. In NSE the company reduced 1.20 points with a 1.33% decrease and reached 89.15 INR. Whereas in BSE, the company reduced 0.90 points with a 1.00% decrease and reached 89.25 INR.
However the Stock Market on February 14th, the market continued bearish trend today. The Sensex traded with a loss of 202.05 points reached 41,257.74 level with 0.49% down. Whereas Nifty traded with a loss of 61.20 points reached 12,113.45 level with 0.50% down.