Edelweiss Financial Services shares plunge on weak Q4 earnings

Edelweiss Financial Services shares tanked 4.69 per cent to Rs 60.90 on Friday after the company announced disappointing standalone Q4 earnings.

For the quarter ended March 2015, the company registered standalone net profit of Rs 29.68 crore, down 36.78 per cent, against Rs 46.95 crore in the corresponding quarter a year ago. 

Revenue of the company also plunged 30.52 per cent year-on-year (YoY) and 12.36 per cent quarter-on-quarter to Rs 67.94 crore.

Total expenditure of Edelweiss Financial Services increased by 19.23 per cent YoY on the back of rise in employee benefit expenses and other expenses.

The company registered total expenditure of Rs 25.48 crore for the quarter ended March 2015 against Rs 21.37 crore in the corresponding quarter a year ago.