RCap Q1 net up 29%

RCap Q1 net up 29%

Anil Ambani group company, Reliance Capital (RCap), announced the consolidated results for the quarter ended June 30, 2012 showing a net profit of Rs 45 crore as compared with Rs 35 crore for the quarter ended June 30, 2011, a growth of 28.57 per cent.

During the quarter under review, the consolidated total income stood at Rs 1676 crore where as the same was at Rs 1492 crore for the quarter ended June 30, 2011, an increase of 12 per cent, ascribed to surge in topline of commercial finance and general insurance business. The standalone result of the company has showed a net profit of Rs 8 crore for the first quarter where as the same was at Rs 138 crore for the quarter ended June 30, 2011.

The standalone total income of RCap stood at Rs 719 crore for the quarter ended June 30, 2012 where as the same was at Rs 719 crore for the quarter ended June 30, 2011.
As per the operational review, the total assets of the company grew by 15 per cent to Rs 37,555 crore.

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