Total income during the quarter increased 127.9% to Rs 4480.95 crore compared with Rs 1965.87 crore in the same period last year.

While the company's interest income declined 32.4% to Rs 928.45 crore, fee and commission income rose 6.35% to Rs 507.21 crore in Q4 FY21 over Q4 FY20. Premium from insurance business was at Rs 511.73 crore, registering 23.41% year-on-year (YoY) growth in the fourth quarter.

The company recorded a net gain of Rs 1,090.32 crore on fair value changes in Q4 FY21 as against a loss of Rs 456.29 crore in Q4 FY20.

Provisions and write-offs declined by 54.2% YoY to Rs 932.88 crore in Q4 FY21. The company posted a pre-tax profit of Rs 554.62 crore in Q4 FY21 compared with a pre-tax loss of Rs 2,818.95 crore in Q4 FY20.

On a consolidated basis, the company recorded a net profit of Rs 265.33 crore in FY21 as against net loss of Rs 2,045.24 crore in FY20. Total income rose 13% to Rs 10,848.85 crore in FY21 over FY20.

The company's board of directors has approved a final dividend of Rs 0.55 per share.

Rashesh Shah, chairman and CEO, Edelweiss Financial Services, said: "Our businesses have been resilient in these testing times and the fee income this quarter is higher than pre-COVID levels. Customer assets have grown 35% YoY demonstrating the continued trust of our customers.

While the alternatives, asset reconstruction and wealth management business have maintained their industry leadership, our mutual fund, retail credit are growing franchisees. The life insurance and digitally powered general insurance business continued to grow and gain market share, while recoveries in ARC continue to be strong. All our businesses are well-capitalised, with operationally independent and robust platforms and are poised for growth.

We concluded the stake sale in our wealth management business, at a valuation of Rs 4,400 crore - an endorsement of the quality of businesses we have built and the value we have created. We continued the transition to a capital light retail credit model with a focus on Housing and SME businesses. We have scaled down our wholesale lending book significantly over the last two years and we plan to further bring it down to half its size by FY23. We now have a stronger balance sheet with robust equity, lower debt and ample liquidity."

The Edelweiss Group is a diversified financial services companies, providing a broad range of financial products and services. Its businesses include asset management, NBFC, housing finance, asset reconstruction, wealth management, life insurance, general insurance and insurance broking.