Reliance Capital posts Rs 315 crore net profit in Q3

Reliance Capital Ltd on Thursday said it closed the third quarter of the current fiscal with a consolidated profit of Rs 315 crore.

In a statement issued here, Reliance Capital said it had posted a net profit of Rs 315 crore for the quarter ended on December 31, a growth of 50 per cent.

The company said its total income at the end of third quarter stood at Rs 4,771 crore, as against Rs 3,964 crore earned in the corresponding period of the previous year.

According to the statement, the company`s net worth as on December 31 stood at Rs 16,232 crore and a debt equity ratio of 2.48.

Group company Reliance Nippon Life Asset Management earned Rs 470 crore from operations for the period under review. The company posted a net profit of Rs 130 crore, a year-on-year (YoY) growth of 26 per cent.

In the insurance space, both the life and non-life insurance companies posted higher premium income during the period under review.

Reliance General Insurance`s gross written premium for the quarter ended on December 31 stood at Rs 1,075 crore, a YoY increase of 26 per cent and a profit of Rs 28 crore, a YoY increase of 54 per cent.

Reliance Nippon Life Insurance logged 2 per cent growth in its net premium last quarter at Rs 998 crore as compared to corresponding period of the previous fiscal.

The group`s broking arm Reliance Securities last quarter earned a total income of Rs 83 crore, a YoY increase of 2 per cent and a profit of Rs 14 crore.