Edelweiss net up 52 percent in first quarterJuly 11th, 2008 - 8:28 pm ICT by IANS
Mumbai, July 11 (IANS) Investment banking major Edelweiss Capital Ltd has announced a consolidated net profit of $15.94 million (Rs.637.8 million) for the first quarter this fiscal, compared to $10.48 million (Rs.419.30 million) for the corresponding quarter the previous year, recording a growth of 52 percent. The total revenues have gone up by 87 percent to $67.23 million (Rs.2.68 billion) for the period under review, compared to $35.93 million (Rs.1.43 billion) in the same period last fiscal.
“Our performance in the current quarter reflects the resilience of our diversified business model,” Edelweiss Capital chairman and chief executive Rashesh Shah said.
“We have consciously chosen to nurture and support diverse sets of businesses and this is something that we expect will help moderate the impact of variable market conditions.”