Edelweiss Capital consolidated net income up 47 per cent for Q4 FY11

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Edelweiss Capital Ltd. announced its consolidated financial results for the year ending March 31, 2011 on 16th May, 2011. The company recorded an increase in operating income by 47.19 per cent to Rs. 386.26 crore in the quarter ending March, 2011, from Rs. 262.42 crore in the corresponding quarter of last year.

It also recorded an increase in its total expenditure by 71.58 per cent to Rs. 322.03 crore for the quarter ending March, 2011 as compared to expenditure of Rs. 187.69 crore reported during the corresponding quarter in 2010. Due to huge rise in expenses, net profit for the quarter ended March, 2011 declined by 17.22 per cent to Rs. 43.26 crore as compared to profit of Rs. 52.26 crore reported during the corresponding quarter in 2010.

For the year ended March 31, 2011, company recorded a net profit of Rs. 233.02 crore as compared to profit of Rs. 229.16 crore in the last financial year i.e. marginal growth of 1.68 per cent. This was due to rise in the expenditure by 76.92 per cent to Rs. 1,141.12 crore, as against the value of Rs. 645 crore reported during the last financial year. Whereas, operating income grew by 52.50 per cent to Rs. 1,491.14 crore in the year ending March, 2011, as compared to the corresponding value of Rs. 977.80 crore in last year.

The increase in the total expenses for both the quarter ended and year ended was on the back of rise in the interest expenditure and finance charges. During the fourth quarter these charges grew by 177.49 per cent to Rs. 158 crore and during the year, these grew by 173.92 per cent to Rs. 532.18 crore.

The consolidated basic EPS of the company during the twelve months i.e. from April - March 2011, increased marginally to Rs. 3.10 as against Rs. 3.06 in the year ago period of 2010.

The consolidated segment revenue for the quarter ended March, 2011 for its segments Agency and Capital Based stood at Rs. 103.73 crore and Rs. 278.07 crore respectively. For the year ended, revenues for Agency and Capital Based were Rs. 511.39 crore and Rs. 972.74 crore respectively.

The Board of Directors of the Company at its meeting held on May 16, 2011, recommended a final dividend of Re. 0.35/-per share (on the face value of Re. 1/-) for the financial year 2010-11, subject to the approval of the members at the Annual General Meeting of the Company.

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