Anil Ambani-owned financial services firm Reliance Capital posted a 53 per cent increase in net profit for the January to March quarter at Rs 407 crore driven primarily due to the stake sale of their asset management business and robust growth in mutual fund and general insurance business.

The stake sale in February this year contributed to about Rs 200 crore to the profits as Nippon Life acquired 9 per cent stake in Reliance Capital Asset Management for Rs 657 crore and raised its stake to 35 per cent.

In the fourth quarter ended March 31, 2015 the total income of the company was up by 37 per cent to Rs 2,527 crore.

The company's mutual fund arm, Reliance Capital Asset Management Company recorded a profit before tax of Rs 455 crore for the full year, up by 29 per cent, while Reliance General Insurance's profit rose 27 per cent to Rs 81 crore.

However, the profit (before tax) of Reliance Life Insurance for the same period fell to Rs 87 crore compared with Rs 100 crore in the same period a year ago.

The profits before tax of Reliance Capital Asset Management for the fourth quarter ended March 31, 2015 stood at Rs 126 crore compared with Rs 124 crore in the same quarter a year ago. The profit before tax of Reliance Commercial Finance stood at Rs 151 crore in the fourth quarter compared with Rs 145 crore in the same period a year ago.

The Non Performing Assets (NPA) was slightly higher at 2.2 per cent as compared to 2 per cent last year in commercial finance business which limited the profits.

For the full year ending March 31, 2015 Reliance Capital posted a 34% increase in net profit to Rs 1,001 crore. The total income was up by 17% to Rs 8,861 crore in the same period.

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