Reliance Cap Q2 total income rises 19 percent
November 11th, 2011 - 7:18 pm ICT by IANSNew Delhi, Nov 11 (IANS) Financial services major Reliance Capital, part of the Reliance Group, Friday reported an increase of 19 percent in total income at Rs.1,546 crore for the quarter ended Sep 30 against Rs.1,300 crore during the previous corresponding period.
As on Sep 30, the net worth of the firm stood at Rs.7,844 crore while its assets were recorded at Rs.33,356 crore, the company said in a regulatory filing.
Net profit during the quarter under review stood at Rs.33 crore compared to Rs.112 during the like period of 2010-11, mainly on account of higher interest rate environment, the company said in a statement.
Among its group companies, the asset management arm of Reliance Capital (Reliance Capital Asset Management) managed Rs.93,148 crore as on Sep 30 across mutual funds, managed accounts and hedge funds.
During the quarter, the systematic investment plan (SIP) and systematic transfer plan (STP) investor accounts increased by 41 percent to 19 lakh.
The life insurance arm of Reliance Capital reported a profit of Rs.8 crore for the quarter ended Sep 30 against a loss of Rs.42 crore for the corresponding previous period.
While its general insurance business reported a decrease in loss at Rs.29 crore for the quarter ended Sep 30 against a loss of Rs.30 crore during the quarter ended June 30, 2010 reflecting successful steps taken towards writing only profitable business.
Reliance Securities, the equity broking arm of Reliance Capital had 6,70,000 retail broking accounts with an average daily equities turnover of Rs.1,200 crore during the quarter.
- Reliance Capital net profit dips 28 percent - Nov 13, 2010
- Reliance Capital reports strong growth in core businesses (Second Lead) - Nov 13, 2010
- Reliance Capital reports 51 percent jump in earnings (Lead) - Nov 13, 2010
- Reliance Capital Q3 net profit up 229 percent - Feb 10, 2012
- Reliance Capital nets 329 crore profit in Jan-March quarter - May 19, 2012
- Reliance Capital consolidated net profit rises 9 percent - May 30, 2011
- Reliance Capital Q1 profit dips 49 percent - Aug 09, 2010
- Reliance Life gets central bank nod for stake sale to Nippon - Sep 30, 2011
- UCO Bank's net up by 94.12 percent in Q2 - Oct 31, 2011
- United Bank's net up by 13.7 percent in Q2 - Oct 31, 2011
- ICICI Bank Q2 net profit rises 21.6 percent - Oct 31, 2011
- Reliance Capital revenues up to Rs.681 crore - Oct 30, 2009
- Reliance Capital net profit up 68 percent - Feb 12, 2011
- Reliance Life concludes 26 percent stake sale to Nippon for $680mn - Oct 09, 2011
- Indian Bank to convert Rs.400 crore preference shares to equity - Jan 30, 2012
Tags: capital asset management, crore, equity broking, general insurance, group companies, insurance arm, insurance business, interest rate environment, investor accounts, management arm, net profit, net worth, profitable business, quarter ended june, reliance capital, reliance group, rs 1, rs 42, rs 8, systematic investment plan