Edelweiss Financial Q1 net profit jumps 53% to Rs 139 crore

NEW DELHI: Edelweiss Financial Services today reported a rise of 53 per cent in its consolidated net profit at Rs 139.68 crore for the first quarter ended June 30, 2016.

The company's net profit in the corresponding quarter of 2015-16 had stood at Rs 91.28 crore.

"Total income increased to Rs 1,472.18 crore for the quarter ended June 2016 as against Rs 1,158.78 crore in the same period a year ago," the company said in a BSE filing.

On standalone basis, the company said its net profit fell by 61 per cent to Rs 11.52 crore in the June quarter of 2016-17 from Rs 29.57 crore in the corresponding quarter of previous fiscal.

Standalone income increased to Rs 92.88 crore for the quarter from Rs 75.09 crore.

Edelweiss Group is a diversified financial services company with presence in retail segments through life insurance, housing finance, mutual fund and retail financial markets.

Shares of the company were trading 1.62 per cent down at Rs 106.00 on BSE.