Earnings | Edelweiss Financial Services Limited (NSE:EDELWEISS): Q3FY23 Results Out; Total Income rise 13% YoY

Edelweiss Financial Services Limited (NSE:EDELWEISS) is a diversified financial services company based in India. It was founded in 1995 and is headquartered in Mumbai. The company offers a wide range of financial products and services including wealth management, asset management, capital markets, investment banking, and insurance. Edelweiss has a strong presence in the Indian financial market and has been recognized for its innovative and customer-centric approach. The company has received several awards and accolades for its performance and contribution to the financial sector in India.

Edelweiss Financial Services Limited, reported its Q3FY23 results. The company posted a post-MI (minority interest) consolidated PAT (profit after tax) of Rs 101 crore, which is a 44% YoY growth. The post-MI ex-insurance PAT was Rs 166 crore, which is a 31% YoY growth. The company’s revenue for the quarter was Rs 2,142 crore.

The Q3FY23 results showed healthy profitability across businesses and strong growth. Asset management AUM (assets under management) growth was at Rs 13,000 crore, with profitability at Rs 68 crore, which is a 209% YoY growth. Alternatives AUM was at Rs 45,000 crore, which is a 49% YoY growth. Asset reconstruction profitability was at Rs 85 crore, which is a 26% YoY growth. Credit business profitability was at Rs 40 crore, which is an 8% YoY growth. The gross written premium for General Insurance business increased by 27% YoY.

The balance sheet for Q3FY23 showed a net worth of Rs 8,369 crore. The debt was reduced by approximately Rs 6,000 crore over the last 2 years to Rs 24,690 crore. The company has conservative provisioning of credit assets, and its liquidity is comfortable at Rs 6,465 crore, which is approximately 26% of the debt. The capitalization across businesses is strong, with capital adequacy of over 34% across credit entities.

In summary, Edelweiss Financial Services Limited’s Q3FY23 results show a strong performance with healthy profitability and growth across businesses. The company has a comfortable liquidity position, conservative provisioning of credit assets, and strong capitalization.