Business Daily from THE HINDU group of publications
Saturday, Nov 01, 2008
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Business Daily from THE HINDU group of publications Saturday, Nov 01, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Financial Performance Corporate Results - Financial Services Reliance Cap standalone net slips 3%
Our Bureau Mumbai, Oct. 31 Reliance Capital, on Friday reported a three per cent dip in its standalone net profit for the quarter ended September 30, 2008 as higher interest costs and expenditure drove down profitability. Net profit dipped to Rs 195 crore for the quarter, from Rs 201.2 crore in the same year-ago quarter, despite the total income of the company rising 73 per cent to Rs 675.72 crore from Rs 391.27 crore. Profits were dented due to higher interest outgo, which at Rs 288 crore (Rs 53.5 crore), was four times higher from a year ago. The profits from its finance and investments segment dipped, to Rs 225.15 crore (Rs 234.93 crore), while the profits from the smaller consumer finance segment increased to Rs 14.31 crore (Rs 5.96 crore). The company’s expenditure increased 54 per cent during the second quarter of the current fiscal. It increased to Rs 154.28 crore from Rs 100.06 crore in the corresponding year ago quarter. The consolidated net profit for the quarter ended September 30, 2008 increased 15 per cent to Rs 229.42 crore (Rs 200.07 crore). Its revenues increased 38 per cent to Rs 1,313.08 crore from Rs 952.71 crore. The company’s basic EPS increased to Rs 9.34 from Rs 8.13. The share price of Reliance Capital increased 2.43 per cent to Rs 650.45 on Friday on the Bombay Stock Exchange. Reliance Capital Q4 net rises 23.7% More Stories on : Financial Performance | Financial Services
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