Edelweiss Q4 profit up 121 percent

May 16th, 2008 - 3:03 pm ICT by admin  

Mumbai May 16 (IANS) Domestic investment banking company Edelweiss Capital Ltd Friday reported a high net profit both for the last quarter and full year 2007-08, thanks to a strong growth of fee and commission revenues in the last quarter. The company announced that despite severe slowdown in the volumes in the domestic capital markets, the results of the last quarter of FY08 showed a jump of 199 percent, with the revenues touching Rs.4.05 billion as compared to Rs.1.35 billion in the corresponding quarter last year.

The profits after tax deduction (PAT) in the last quarter was Rs.825 million compared to Rs.373 million registered in the corresponding period last year, showing a jump of 121 percent.

As per the consolidated report, the financial year 2007-08 witnessed a jump of revenues by 193 percent with the profit after tax (PAT) showing a leap of 149 percent.

The report reveals that compared to Rs.3.71 billion posted in FY07, the company’s FY08 results touched Rs.10.88 billion.

Similarly, in the PAT section, the results showed that the company garnered in FY08 Rs.2.73 billion as compared to Rs.1.09 billion posted in the corresponding period last year.

The company said the group’s net worth now stands in excess of Rs.23 billion.

On the garnering of revenues from fees and commission, the results showed that in the last quarter of FY08, the firm managed to rake in Rs.1.44 billion as compared to Rs.747 million, despite a slowdown in the capital markets.

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