Friday, June 17, 2016

Reliance Capital Ltd: Q4FY17, Result Update
Reliance Capital Ltd (R-Cap) reported a net profit increase of 2% in the March, 2016 quarter from a year earlier after setting aside a special reserve for its insurance unit.

Consolidated net profit for the fourth quarter grew to Rs.415 crore, from Rs.407 crore a year ago, said the company, which is a part of Anil Ambani’s Reliance Group.

The financial services company set aside Rs.111 crore as a special reserve for Reliance Life Insurance Co. Ltd, during the three-month period.

“This is a business reserve due to change in product mix in the life insurance company,” a spokesperson for the company said.

Consolidated revenue in the quarter increased 13% to Rs.2,807 crore from Rs.2,484 crore reported a year ago.

Other income in the quarter dropped to Rs.21 crore from Rs.58 crore a year ago.

As of 31 March 2016, the company’s total assets stood at Rs.67,112 crore, an increase of 40% on a year-on-year basis, it said in a statement.

Group company Reliance Commercial Finance Ltd saw its loan book rise to Rs.10,940 crore, as of 31 March, an increase of 6% from a year ago.

Disbursements for the year were at Rs.8,138 crore, up 17% from last year.

The company’s gross non-performing asset ratio increased to 3.1% of its loan book at the end of the fourth quarter, as compared with 2.6% as on 31 December (marginal rise).

Reliance Home Finance Ltd, a 100% owned subsidiary of Reliance Capital, saw its outstanding loan book increase 34% from last year to Rs.6,792 crore as on 31 March.

For the January-March quarter, the assets under management for Reliance Mutual Fund were at Rs.1.58 trillion, up 16% year-on-year, the company said in its statement.

Reliance Life Insurance reported new business premium worth Rs.1,558 crore, while renewal premium was at Rs.2,840 crore for the year ended 31 March.

For Reliance General Insurance Co. Ltd, the gross written premium was at Rs.2,868 crore, up 4% from a year ago.

As on 31 March, the total investment book was at Rs.5,381 crore, up 7% year-on-year.

Courtesy: Live Mint (edited)
Post a Comment