Reliance Capital logs Rs.207 crore profit

Reliance Capital ltd said on Saturday it closed the first quarter of the current fiscal with a consolidated net profit of Rs.207 crore.

The company, part of the Anil Ambani-led Reliance Group, said it has logged a consolidated net profit of Rs.207 crore for the quarter ended June 30, 2016 up from Rs.201 crore posted for the quarter ended June 30, 2015.

In a statement issued the company said its total income for the period under review was Rs.3,663 crore up from Rs.2,470 crore for the period ended June 30, 2015.

According to the company its total networth as on June 30, 2016 stood at Rs.15,634 crore registering an increase of 13 per cent.As on 30.6.2016 the company's total assets stood at Rs.69,356 crore - an increase of 40 per cent.

According to Reliance Capital, the total assets under management in the commercial finance business as on June 30, 2016 stood at Rs.16,451 crore logging a growth of 17 per cent while under the home finance business the figure was Rs.8,259 crore, an increase of 32 per cent.

The average assets under the Reliance Mutual Fund stood at Rs.167,009 crore for the quarter ended June 30, 2016 showing an year-on-year growth of 15 per cent.

The group's life insurance company Reliane Nippon life Insurance earned a total premium (net of reinsurance premium) of Rs.650 crore while the non-life company Reliance General Insurance earned a total premium of Rs.908 crore.

According to Reliance Capital, the life insurance company earned a marginal profit for the period under review while the general insurance company's net profit went up by 23 per cent to Rs.36 crore.