Edelweiss Fin. Ser posts Q1 net profit of Rs 71.61 cr
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The company reported standalone net profit during the quarter stood at Rs 71.61 crore compared to net loss of Rs 129.18 crore in the previous year quarter. Net revenue of the company rose substantially by 66.48 per cent at Rs 106.00 crore in April-June quarter of this fiscal as against Rs 63.67 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 59.89 per cent to Rs 76.79 crore from Rs 191.46 crore in year ago period. Other Income grew by 0.00 per cent at Rs 77.49 crore versus (Jun'20 Rs 0.00 crore). Operating Profit surged by 123.68 per cent to Rs 29.21 crore as against Rs -123.37 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 114.22 per cent in June quarter. Interest grew by 859.18 per cent y-o-y to Rs 35.01 crore
