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.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here