Reliance Capital
today posted a consolidated net profit of Rs 401 crore for the
three-month period ended September 30, 2012.
The entity had net profit of Rs 33 crore in July-September
quarter of 2011, R-Cap said in a statement.
The company's total income rose to Rs 2,437 crore in the
second quarter ended September 30, 2012. It the year-ago period, it had
reported total income of Rs 1,573 crore.
R-Cap attributed the impressive quarterly earnings to
increase in topline of commercial finance business and gains accrued from the
stake sale in Reliance Capital Asset Management.
It said that financial results for the current quarter are
not comparable with previous corresponding quarter as Viscount Management
Services (Alpha) Ltd, amalgamated with the company with effect from October
2011.
R-Cap is financial services arm of Anil Ambani-led Reliance
Group and is present in businesses including asset management, mutual fund,
insurance, brokerage and various other segments of the financial services
sector.
Earlier, R-Cap had sold 26 per cent stake in its asset
management and mutual fund unit to Japanese financial services giant Nippon
Life for Rs 1,450 crore.
The group's commercial finance operation has cornered a
total income of Rs 534 crore in the quarter under review from Rs 498 crore in
the year-ago period.
Its revenues from brokerage business grew by 12 per cent to
Rs 65 crore.
However, Reliance Capital Asset Management's income from its
operations declined by two per cent to
Rs 160 crore for the quarter ended September 30, 2012.
Shares of R-Cap inched up by 0.06 per cent to settle at Rs
394.45 apiece on the BSE.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment