The Hindu Business Line : Reliance Capital Q4 net rises 23.7%

Mumbai, April 30 The net profit of Reliance Capital, an arm of the Reliance Group (ADAG), has increased by 23.7 per cent to Rs 386 crore for the fourth quarter ended March 31, 2008.

The board of directors has recommended a dividend of Rs 5.50 for one share of Rs 10 for the financial year ended March 31, 2008.

The total income for the quarter rose 96 per cent to Rs 799 crore from Rs 407 crore in the year-ago quarter.

The net profit for the year ended March 31, 2008 increased by 59 per cent to Rs 1,025 crore compared with Rs 646 crore in the previous financial year.

The total income for the financial year 2007-2008 increased by 135 per cent to Rs 2,080 crore against Rs 884 crore in the corresponding previous period.

The consolidated net profit for the quarter ended March 31, 2008 rose by 19 per cent to Rs 366 crore against Rs 306 crore in the same period of the previous year.

The consolidated income for the quarter jumped 97 per cent to Rs 1,635 crore.

Reliance ADAG has 53.4 per cent shareholding in the company as on March 31, 2008.

FIIs, GDRs, NRIs and others have 27.5 per cent stake in the company, while domestic institutions, banks and mutual funds have 3.1 per cent of the shares of the company. Public shareholding amounts to 16 per cent.

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