The Hindu Business Line : Reliance Capital Q4 net rises seven-fold

Reliance Capital Ltd (RCL) has posted a seven-fold rise in its net profit for the quarter ended March 31. At Rs 286 crore, RCL recorded a 709 per cent increase from Rs 35 crore in the year-ago period.

This came as RCL returned a total income of Rs 322 crore during the period, reflecting a 284 per cent rise over Rs 84 crore in the last quarter of 2004-05. Cash profit for the period was Rs 290 crore, against Rs 42 crore in the previous fourth quarter, an increase of 590 per cent.

RCL, announcing its audited financial results for 2005-06 here on Monday, said its net profit for the fiscal was Rs 538 crore, up 408 per cent from Rs 106 crore last year. The company had its total income for the year pegged at Rs 652 crore, up 121 per cent from Rs 295 crore a year ago.

During the period under review, the company came up with a preferential offer of equity shares/equity related securities to Anil Dhirubhai Ambani Enterprises, and long-term institutional investors, amounting to Rs 2,673 crore. As on March 31, RCL's net worth stood at Rs 4,123 crore and on conversion of outstanding equity warrants, this will rise to over Rs 4,568 crore.

The board of directors approved a dividend of Rs 3.20, amounting to Rs 81 crore, on an increased capital base of Rs 223 crore.

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