Edelweiss Financial Services Reports Strong Q2 Performance, Receives 'Hold' Call from MarketsMOJO

Edelweiss Financial Services, a midcap finance and non-banking financial company (NBFC), has recently announced its financial results for the quarter ending September 2024. The company has received a 'Hold' call from MarketsMOJO, a leading stock market analysis platform.

According to the Sep 2024 financials, Edelweiss Financial Services has shown a positive performance in the second quarter of FY24-25. The company's score has improved from 3 to 15 in the last three months, indicating a strong growth trend.

One of the key factors contributing to this growth is the Profit Before Tax less Other Income (PBT) which has shown a significant increase of 217.72% year on year (YoY) at Rs 308.79 crore. The near-term trend for PBT is also very positive. Similarly, the Profit After Tax (PAT) has grown by 45.1% YoY at Rs 110.23 crore, with a positive near-term trend. The Net Sales have also shown a growth of 31.36% YoY at Rs 2,831.74 crore, indicating a positive sales trend in the near term.

The company's Operating Profit (PBDIT) for the quarter is at its highest in the last five quarters at Rs 1,017.40 crore, with a positive near-term trend. The Cash and Cash Equivalents for the half-yearly period is also at its highest in the last six periods at Rs 3,896.97 crore, indicating an improvement in short-term liquidity.

Overall, Edelweiss Financial Services has shown a strong financial performance in the second quarter of FY24-25, with positive trends in key financial indicators. This is a promising sign for the company and its investors.