MUMBAI: Edelweiss Financial Services’ net profit rose 47% for the third quarter of the current financial year. The financial services arm registered a profit of ₹155 crore for the three month period ended 31st December 2016, compared with ₹106 crore in the corresponding period of the previous fiscal. Revenues rose 18% to ₹1,609 crore, as against ₹1,361 crore. Fund income rose 3% to ₹1,130 crore, fee & commission income jumped 97% to ₹356 crore. The gross premium income from life insurance business increased to ₹92 crore, compared with ₹66 crore in Q3FY16. At the end of Q3FY17, the book size of retail credit was ₹7,823 crore, up 33% from the corresponding quarter of the previous fiscal with the current client base pegged at 3.89 lakh as against the earlier 1.54 lakh. The housing finance, SME and rural finance businesses operate out of 52 cities and over 3,100 villages. — Special Correspondent
