Reliance Capital reports 10 percent rise in net profits

Mumbai, Jan 21 (IANS) Anil Ambani-led Reliance Capital on Thursday announced a consolidated net profit of Rs.235 crore for the quarter ended December 31 last year, which was 10 percent higher than the Rs.213 crore logged in the corresponding period of the previous year.

In a filing with stock exchanges, the company said its total income also rose 10 percent to Rs.2,318 crore while the earnings per share went up by Rs.9.3 — showing an increase of 7 percent over the like period of the previous year.

Among the other highlights, Reliance Capital Asset Management was overseeing Rs.261,424 crore worth of funds ($39.6 billion) as on December 31, across mutual funds, pension funds, managed accounts and offshore funds.

Mutual fund business, in particular, ranked among the top with a market share of 11.7 percent.

Reliance mutual fund’s average assets under management for the quarter under review was valued at Rs.156,948 crore ($23.8 billion) — a year-on-year increase of 24 percent, the company said. It boasted 223 schemes – 34 in equity, 180 in debt, eight exchange-traded funds and a master fund.

Reliance capital asset management income from operations was Rs.340 crore – up 36 percent

In life insurance business, new business premium grew to fetch the company a market share of 4 percent of the private sector industry, while in the general category, the market share was at 8 percent in terms of gross premium.

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