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Reliance Cap net profit down 49%

Anil Ambani-led Reliance Capital reported a decline of 49 per cent in net profit at Rs 77.0 crore for the first quarter ended June 2010, mainly due to the fall in general insurance and finance and investment segment.

business Updated: Aug 09, 2010 22:09 IST
HT Correspondent

Anil Ambani-led Reliance Capital reported a decline of 49 per cent in net profit at Rs 77.0 crore for the first quarter ended June 2010, mainly due to the fall in general insurance and finance and investment segment.

The financial services firm also reported a fall of 14.6 per cent in its total income for the first quarter at Rs 1,253.8 crore, against Rs 1,468.1 crore in the year-ago period, company said in a filing to the BSE.

In the general insurance segment, Reliance Capital recorded a first quarter revenue of Rs 509.2 crore, down 18.2 per cent over the figure of Rs 622.6 crore in the year-ago period.

Reliance Capital's revenue from the finance and investment segment fell by 26.7 per cent to Rs 254.4 crore during the quarter ended June 30, from Rs 346.9 crore in the corresponding quarter of 2009-10, it said.

Its revenue from the asset management segment, however, went up by 22.7 per cent to Rs 149.9 crore in the first quarter, as against 122.2 crore in the same period of last fiscal.

The revenue of the consumer finance segment of the non-banking financial company grew by 5.1 per cent for the quarter ended June 30 at Rs 303.4 crore.