Reliance Capital total income up 18 percent

August 13th, 2011 - 7:00 pm ICT by IANS  

Mumbai, Aug 13 (IANS) Reliance Capital, part of the Anil Ambani-led Reliance Group, said Saturday its consolidated income increased by 18 percent to Rs.1,492.11 crore ($334 million) in the first quarter of 2011-12.

The company’s operating profits from major businesses jumped 78 percent to Rs.104.7 crore in the quarter ended June 30 as compared to Rs.58.7 crore in the same period last year.

However, Reliance Capital’s net profit declined 55 percent at Rs.34.8 crore during the quarter under review, mainly because of “higher interest rate environment”, the country’s fourth largest private sector financial services firm said in a statement.

The company’s earnings per share also fell 55 percent to Rs.1.42 in the quarter ended June 30.

Total assets of the company increased to Rs.32,419.4 crore ($7 billion) by the end of the first quarter of the current fiscal, registering an increase of 19 percent, while the company’s net worth rose to Rs.7,834.5 crore ($2 billion).

Share price of Reliance Capital declined 4.68 percent at Rs.436.75 at the Bombay Stock Exchange Friday, the last trading day of the week.

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