Reliance Capital net profit misses estimates
Its life insurance segment has supported in boosting the top-line, as Reliance Nippon Life Insurance company became a subsidiary of the company, which was effective from start of the current financial year.
Anil Ambani's Reliance Capital reported net profit of Rs 207 crore for the June quarter ended 2016 (Q1FY17), sequentially rising by 2.98% against Rs 201 crore in the corresponding period of the previous year.
However, the current net profit has under-performed by declining over 50% compared to Rs 415 crore of the preceding quarter.
Total income was around Rs 3642 crore, growing by 47.86% yoy (year-on-year) and 29.74% qoq (quarter-on-quarter).
While operating profit (EBITDA - earnings before interest tax depreciation and amortization) was at Rs 1037 crore, up by 6.35% yoy but down by 28.28% qoq. It's operating profit margin stood at 28.47%, contracting by 1111 basis points yoy and 2304 basis points qoq.
On standalone basis, the company's net profit of Rs 213 crore, which was up by 21.71% yoy but down by 59.50% qoq. Also, total income was at Rs 928, declining by 0.64% yoy and 31.66% qoq.
Net interest income (NII) stood at Rs 375 crore, registering growth of 2.17% yoy. However, it declined by 51.55% against the preceding quarter.
As on June 30, 2016, the company's net worth has rose by 13% to Rs 15,63 crore. Total asset of Reliance capital has increased by 40% to Rs 69.356.
On segment wise revenue break-up, the company's life insurance segment was at Rs 1098 crore which was not comparable.
It's life insurance segment has supported in boosting the top-line, as Reliance Nippon Life Insurance company became a subsidiary of the company, which was effective from start of the current financial year.
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