Reliance Capital nets 329 crore profit in Jan-March quarter

Syndicated from IANS | Published on Sat, May 19 2012 19:42 IST | 5 Views | Add comment

Reliance Capital Saturday said it has posted Rs.329.32 crore ($65 million) profit in the January-March 2012 period as against Rs.6.46 crore loss during the corresponding quarter of previous year.

The company's total income increased to Rs.2,001.86 crore for the quarter ended March 31, 2012, as compared to Rs.1,600.33 crore during the corresponding period of 2010-11.

Reliance Capital, a part of Anil Ambani-led Reliance Group, posted a net profit after taxes, minority interest and share of profit/(loss) of associates of Rs.457.76 crore for the year ended March 31, 2012, as compared to Rs.291.18 crore in the previous year.

The company's total income in fiscal 2011-12 increased to Rs.6,626.86 crore as compared to Rs.5,535.9 crore in 2010-11.

Net worth of the company grew by 50 percent to Rs.11,696 crore ($2.3 billion).

The company ranks number one among Indian financial services companies in terms of net worth.

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