Shares of Reliance Capital today rose over 3 per cent after it posted a net profit of Rs 401 crore for the quarter ended September 30, 2012.

After making a bullish opening, shares of the company further gained 3.54 per cent to Rs 408.45 on the BSE. On the NSE, the scrip jumped 3.52 per cent to Rs 408.50.

Reliance Capital had yesterday posted a consolidated net profit of Rs 401 crore for the July-September quarter of the current fiscal. The company had a net profit of Rs 33 crore in the July-September quarter of 2011.

Its total income rose to Rs 2,437 crore from Rs 1,573 crore.

R-Cap attributed the impressive quarterly earnings to increase in topline of commercial finance business and gains accrued from the stake sale in Reliance Capital Asset Management.

It said that financial results for the current quarter are not comparable with the previous corresponding quarter as Viscount Management Services (Alpha) Ltd was amalgamated with the company with effect from October 2011.

(This article was published on November 7, 2012)
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