Reliance Capital net profit down 55 percent (Lead)
July 31st, 2009 - 7:43 pm ICT by IANS ( Leave a comment )Mumbai, July 31 (IANS) The Anil Ambani-led Reliance Capital Friday reported a 55.6 percent fall in net profit to Rs.153.29 crore ($33 million) for the quarter ended June 30 as against Rs.345.3 crore in the like period last year.
The company’s total income for the first quarter stood at Rs.1,468.12 crore ($316 million), down 3.05 percent from Rs.1,514.40 crore in the corresponding quarter the previous fiscal.
The company, whose net worth stood at Rs.7,500 crore ($1.6 billion) booked lower capital gains in the quarter as it is likely to book substantial gains from a planned stake sale in its life insurance business.
Reliance Capital has interests in asset management, mutual funds, life and general insurance, private equity and proprietary investments among other financial services.
The earnings per share fell to Rs.6.15 in the June quarter from Rs.13.97 a year ago.
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Tags: anil ambani, capital gains, earnings per share, financial services, first quarter, general insurance, insurance, investments, life insurance business, mutual funds, net profit, net worth, private equity, quarter ended june, reliance capital, rs 1, rs 6, stake, substantial gains
