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Reliance Capital has said it’s third quarter consolidated net profit grew 28 per cent, aided by robust performance in the corporate lending and investment activities, and the asset management business.
In the quarter ended December 31, the Anil Ambani-led company’s net profit rose to ₹213 crore, from ₹166 crore a year ago.
Across 5 segments Consolidated performance includes Reliance Capital’s five business segments — finance and investments, asset management, general insurance, commercial finance and other financial services.
Chief Executive Sam Ghosh said: “It’s a very good quarter for the company. We benefited immensely from equity movement in the quarter.”
He foresees profit growth to be steady in the coming two quarters. Total income grew 12 per cent to ₹2,102 crore on a consolidated basis.
General insurance In the general insurance business, some companies have shown expression of interest in investing in the company, said Ghosh. “We are looking at it.”
He expressed hope that all the approvals for the company’s 2.8 per cent stake sale in Reliance Capital to Sumitomo Mitsui Trust Bank and 9 per cent stake sale in Reliance Capital Asset Management to Nippon Life will be in place in the next two to three weeks.
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