Small BusinessReliance Capital Q2 net dips 32% to Rs 156 cr
Anil Ambani group firm Reliance Capital today reported 32 per cent decline in consolidated net profit for the second quarter ended September 30, while its total income rose by 11 per cent.
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The company"s net profit fell to Rs 156 crore during the quarter under review, from Rs 229 crore in the year-ago period, Reliance Capital said in a statement.
The company said the profit declined due to "lower capital gains booked this quarter... Substantial gains (are) likely to be booked later this year from planned stake sale in Reliance Life Insurance".
The consolidated total income of the company increased 11 per cent to Rs 1,447 crore during the July-September quarter.
As of September 30, the net worth of the company stood at Rs 7,669 crore. Also Reliance Capital"s total assets stood at Rs 25,624 crore, an increase of two per cent over the same period previous fiscal.
During the review period, Reliance Capital"s customer base crossed 18 million.
Among its various group companies, Reliance Capital Asset Management recorded a 16 per cent YoY rise in net profit at Rs 39 crore for the quarter ended September 2009, reflecting a higher average assets under management (AUM).
The average AUM of Reliance MF rose by 37 per cent at Rs 1,18,251 crore at the end of September 2009.