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Control on expenditure helped propel Reliance Capital's consolidated net profit up 68 per cent during the quarter ended December 2010. Net profit rose to Rs 106 crore during the quarter from Rs 63 crore during the corresponding year-ago quarter.
Though its total income fell 8.8 per cent to Rs 1,352 crore, total expenditure dipped 22 per cent to Rs 813 crore.
The company's employee cost reduced to Rs 121 crore from Rs 145 crore. Premiums paid on reinsurance ceded also dipped to Rs 158 crore from Rs 189.6 crore. Depreciation too reduced by close to 16 per cent.
Income from asset management and general insurance saw a decrease this quarter and its income from finance and investment rose to Rs 253 crore (Rs 240 crore).
Standalone net
On a standalone basis, the net profit dropped to Rs 4.6 crore form Rs 41 crore. Its total income during the period fell to Rs 381 crore (Rs 533 crore).
On Friday, Reliance Capital shares closed up 2.18 per cent at Rs 428.35 on the BSE.
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