Reliance Capital Q2 profit up 15 percent at Rs.250 crore

Mumbai, Nov 2 (IANS) Leading financial services provider Reliance Capital Ltd on Monday reported a rise of 15 percent in its consolidated net profit for the second quarter of the current fiscal.

In a statement here, Reliance Capital said it had posted a consolidated net profit of Rs.250 crore for the quarter ended September 30, 2015, up from Rs.217 crore posted during the corresponding quarter of last year.

The company’s consolidated total income went up by 13 percent at Rs.2,361 crore for the period under review as against Rs.2,084 crore in the corresponding previous period.

The earnings per share logged 11 percent increase at Rs.9.9.

The company’s net worth as on September 30, 2015, stood at Rs.14,175 crore logging a growth of 10 percent.

According to Reliance Capital, its total assets as on September 30, 2015, stood at Rs.49,420 crore-an increase of 11 percent

During the quarter under review, Reliance Capital’s subsidiaries Reliance Life Insurance and Reliance General Insurance posted a net profit of Rs.15 crore and Rs.30 crore respectively.

The second quarter also saw Japanese Nippon Life deciding to increase its holding in Reliance Capital Asset Management Company to 49 percent by acquiring additional 14 percent for Rs.1,196 crore.

Reliance Capital Asset Management also announced its decision to acquire Goldman Sachs onshore asset management business for Rs.243 crore.

Reliance Capital Asset Management managed Rs.2,54,607 crore as on September 30, 2015, across mutual funds, pension funds, managed accounts and offshore funds.

According to Reliance Capital, the book value of its share increased to Rs.561 at the end of September 30, 2015.

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