Reliance Capital Q2 net down 70 per cent at Rs33.45 crore
11 Nov 2011
Reliance Capital has posted a consolidated net profit of Rs33.45 crore for the quarter ended 30 September 2011, against Rs1,11.97 crore in the quarter ended 30 September 2010, a 70-per cent year-on-year decline.
Total income for the quarter, however, expanded by 19 per cent to Rs1,546.10 crore from Rs1,299.8 crore in the previous year quarter. The company attributes the decline in profits to the prevailing high interest rate regime.
Quarterly net revenue was up 19 per cent at Rs1,518.93 crore, against Rs1,280.61 crore last year, registering a 19 per cent growth. Other operating income stood at Rs10.26 crore, against a negative income of Rs11.88 crore in the previous-year quarter.
Earnings per share (EPS) of the company for the quarter stood at Re1.36, compared to Rs4.03 in the corresponding period last year, a 66 per cent fall.
For the half-year ended 30 September 2011, consolidated net profit of the company fell by 64 per cent to Rs68.28 crore from Rs190.98 crore in the corresponding period last year. Total revenue, including other operating income, rose 19 per cent to Rs3,006.30 crore, from Rs2,522.53 crore in the corresponding period last year.
Stand-alone net profit for the fiscal second quarter fell 82 per cent to Rs9.28 crore from Rs51.87 crore in the year-ago quarter. Total operating revenue rose 35 per cent to Rs688.47 crore from Rs.510.74 crore in the similar quarter of the previous fiscal.