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Our Bureau

Mumbai, Aug 1 Delhi-based Religare Enterprises Ltd has reported a standalone net loss of Rs 8.41 crore for the first quarter ended June 30, 2008.

Its total income stood at Rs 1.78 crore.

On a consolidated basis, the company made a net profit of Rs 3.66 crore, while total income amounted to Rs 288.74 crore.

Comparable year-ago figures are not available as the company was listed only in November last year.

The company reported consolidated revenues of Rs 76.37 crore from its investment and finance segment, and Rs 116.43 crore from its broking-related business.

The broking-related business made a loss before interest and tax of Rs 23.06 crore while segmental profit from financial advisory services were Rs 43.67 crore.

The company incurred a loss of Rs 6.3 crore on account of joint venture businesses, this amount being considered as an exceptional item due to non-commencement of business operations, said a company statement.

Religare’s joint venture for Life Insurance and Mutual Funds, and that with Macquarie for wealth management are in the investment phase and this quarter has seen significant capitalisation for the same, said Mr Sunil Godhwani, CEO & Managing Director, Religare Enterprises Ltd.

The company’s broking arm, Religare Capital Markets, has applied for a fresh broking license for trading cum clearing membership in the cash segment of NSE and BSE; and in the F&O segment of NSE; the same shall be used to operate the institutional broking business which is currently being operated through Religare Securities Ltd, said the statement.

On Friday, the share price of Religare Enterprises closed at Rs 386.55, up 1.56 per cent from the previous day’s close.

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