BUSINESS & FINANCE
Reliance Capital Q2 net up by 39% at Rs 352 crore
Reliance Capital on Tuesday said it closed the second quarter of the current fiscal with 39 per cent growth in its consolidated net profit.
In a statement here, the company said it has posted a net profit of Rs 352 crore logging a growth of 39 per cent for the quarter ended September 30, 2017 over the corresponding quarter of the previous year.
During the quarter under review, the company's total income was Rs 5,254 crore -- up from Rs 4,926 crore in the corresponding period of previous year.
As on September 30, 2017, the net worth of the company stood at Rs 16,027 crore and the total assets showed 22 per cent increase at Rs 88,548 crore.
The company also said that the listing of its non-life insurance subsidiary Reliance General Insurance is on track and it is expected to be listed by March 2018, subject to the receipt of regulatory approvals.
For the quarter ended September 30, 2017, Reliance General Insurance's Gross Written Premium was Rs 1,688 crore logging a growth of 16 per cent over corresponding period of the previous year.
For the quarter, the Reliance General posted profit was Rs 47 crore, a year-on-year (YoY) increase of 40 per cent.
As on September 30, 2017, the investment book stood at Rs 7,280 crore, a YoY increase of 16 per cent, while the net worth was Rs 1,339 crore, a YoY increase of 13 per cent.
Reliance Life Insurance, during the quarter under review, earned a total premium of Rs 963 crore.
Reliance Home Finance earned a total income of Rs 407 crore for the quarter ended September 30, 2017.
Reliance Securities, the broking and distribution arm of Reliance Capital posted a total income of Rs 83 crore and a net profit of Rs 13 crore for the second quarter of the current fiscal.
Reliance Nippon Life Asset Management (RNAM) -- asset manager of Reliance Mutual Fund (RMF) -- for the quarter ended September 30, 2017 posted a net profit of Rs 122 crore up by 25 per cent over the figure posted during the corresponding period of the previous year.
Reliance Commercial Finance, for the quarter ended September 30, 2017, grew its total income by two per cent during the quarter under review to Rs 502 crore.
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