Edelweiss in the red
Edelweiss Financial Services on Friday reported a consolidated net loss of Rs 56.12 crore for the quarter ended September.
The non-banking financial company had posted a net profit of Rs 67.97 crore in the same quarter a year ago.
However, the loss in the second quarter of 2020-21 has narrowed sequentially from Rs 263.67 crore in the June quarter of this fiscal.
Total income fell to Rs 2,256.88 crore in the July-September period of 2020-21 from Rs 2,405.24 crore in the same period of 2019-20, Edelweiss Financial Services said in a regulatory filing.
The company said it raised Rs 2,500 crore during the first quarter of 2020-21 and Rs 4,350 crore in the half-year ended September 2020 through various sources, including targeted long term repo operations (TLTRO under the RBI) and bank loans.
The company is engaged in corporate and retail credit, wealth management, asset management, asset reconstruction and insurance businesses.
JSW Holdings, the non-banking financial company that forms the investment arm of JSW Group, on Saturday posted a 48.1 decline in consolidated profit at Rs 39.48 crore for the September quarter.
The company had posted a profit of Rs 76.20 crore for the year-ago period, JSW Holdings said in a filing to BSE. Total income during July-September 2020-21 dropped to Rs 50.32 crore from Rs 85.48 crore in the year-ago period, the filing said.