EFS reports 4 per cent drop in PAT

Edelweiss Financial Services (EFS) reported a rise of 25 per cent YoY in the total income of Rs. 2,791 crore in Q3FY19 as against Rs. 2,224 core in Q3FY18. However, PAT dropped to Rs. 226 crore in Q3FY19 from Rs. 235 crore in Q3FY18, thereby sinking 4 per cent YoY. 

The company's consolidated revenues from operations stood at Rs. 2,775.68 crore in Q3FY19 as against Rs. 2,205.46 crore in Q3FY18, thereby rising 25.85 per cent. Basic EPS (not annualized) was reported at Rs. 2.55 in Q3FY19 from Rs. 2.82 in Q3FY18. 

In Q3FY19, the company reported an asset base of Rs. 55,800 crore. EFS reported return on equity excluding insurance of 15.60 per cent. 

The company enjoys a strong liquidity position of Rs. 14,000 crore which is sufficient to fund growth and settle liabilities over the next three years. EFS enjoys robust funding with banks and retail investors contributing to nearly 63 per cent of its liabilities. As such, its reliance on CPs has dropped substantially to 7 per cent. 

The Edelweiss Group reported revenue of Rs. 8,623 crore and PAT of Rs. 890 crore in FY18. It has a capital adequacy ratio of 17.8 per cent as on December 31, 2019. The gross networth of the Group stood at Rs. 8,785 crore in Q3FY19

On Thursday, the shares of EFS opened at Rs. 161.00 per share and hit a high and low of Rs. 161.80 and Rs. 152.50, respectively. At 14:23 hours, the stock was trading at Rs. 154.60 per share, down 3.68 per cent.