Reliance Capital reports net profit to the tune of Rs.272 crore in first quarter of FY19

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Reliance Capital recently announced a consolidated net profit to the tune of Rs.272 crore during the first quarter of FY18-19. In comparison, the company had reported a net loss of around Rs.378 crore during the corresponding period in the previous financial year.

Reliance-Capital
Reliance Capital witnesses net profit of Rs.272 crore in the first quarter of FY19.

Further, Reliance Capital added that its total income during the period under review increased by a total of 4% to Rs.4,641 crore, in comparison to Rs.4,444 crore in the April-June period of the previous financial year.

During the first quarter of FY19, Reliance Capital’s earnings per share touched Rs.11.70. The total assets of the company, as of June 2018, increased by 7% from the last financial year to touch Rs.87,041 crore.

The company, however, has not incorporated the Q1 results of Reliance Nippon Life Insurance and Reliance General Insurance, which are subsidiaries of Reliance Capital. The Anil Ambani-led Reliance Group has business interests in mutual funds and asset management, life insurance, general insurance, health insurance, pension funds, wealth management, home finance, commercial finance, and so on.

As on 31 March 2017, Reliance Capital had a net worth of Rs.16,692 crore or U.S. $2.6 billion and total assets to the tune of Rs.82,209 crore or U.S. $12.6 billion.

Sources: Livemint, Moneycontrol

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