LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Religare Enterprises Q1 net loss widens to Rs 17 cr

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Sep 06, 2018
09:41 pm
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Religare Enterprises has reported a standalone net loss of Rs 17.07 crore for the quarter ended June.

The company had posted a loss of Rs 14.05 crore in the corresponding period of 2017-18.

Total revenues fell to Rs 5.95 crore during the quarter under review as against Rs 18.02 crore in the year ago period, the company said in a regulatory filing Wednesday.

Additionally, Religare Enterprises said the net worth of its subsidiary Religare Finvest (RFL) continues to decline. The RBI has also put restrictions on RFL regarding expansion of credit/investment portfolio and dividend outflow from the subsidiary company.

"Further RFL has filed the petition before NCLT for recovery of dues from entities included in the unsecured corporate loan book of Rs 2036.70 crore and adjustment of fixed deposit of Rs 791.45 crore by RFL by Lakshmi Vilas Bank against the loans granted by LVB to RHC Holding and Ranchem Pvt Ltd, which is contested by RFL in Delhi High Court," it said.

Both the matters are pending for disposal, it said.

Religare Enterprises said the management of RFL is in the process of finalisation of the impact of expected credit loss on the entire credit portfolio including this corporate loan book of Rs 2036.70 crore and deposit with LVB of Rs 791.45 crore.

Lakshmi Vilas Bank in June said the adjustment of over Rs 790 crore deposits of Religare Finvest, held as security for loans taken by other two firms, was legal and the bank is fighting the case in the court appropriately.

However, Religare refuted the same saying its subsidiary Religare Finvest never created any security over its deposits of Rs 794 crore with Lakshmi Vilas Bank, which the lender has held against loan defaults by third parties RHC Holding and Ranchem Pvt Ltd.

Stock of Religare Enterprises closed 0.64 per cent up at Rs 47 on BSE.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year

India Post GDS Recruitment 2021: Application for 233 vacant posts for Gramin Dak Sevaks in Delhi postal circle closes in two days! Check how to apply, TRCA allowances, age limit, eligibility and other details now

Modi government PM-KISAN scheme: Ensuring life of dignity, prosperity for farmers with intent to double their income

Gold Price Today – Price fall continues, yellow metal cheaper by Rs 80; Silver expensive by Rs 495 when markets opened on Thursday

CSBC Bihar Police Constable Syllabus: Admit Card 2021 released! Check at csbc.bih.nic.in for salary, exam pattern

CBSE class 10 Syllabus reduced in this subject: Attention students! CBSE board exam 2021 syllabus has been cut for social science subject; Know how to download

Central government employees, pensioners? How this FM Nirmala Sitharaman latest news today may impact you | EXPLAINED

HDFC Securities highlights that the momentum in the indices could take the Nifty up to 15039-15132 band in the near term

Attention NEET 2021 candidates! Check expected exam date

ZeeBiz raises critical questions on NSE trading glitch; Anil Singhvi demands inquiry, asks who will pay compensation for loss?

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved