Reliance Capital Q3 net profit dips to Rs63.18 crore

01 Feb 2010

Reliance Capital has reported consolidated net profit of Rs63.1 crore in its third quarter results announced today. This is against the Rs131.5 crore in the third quarter of 2008.

Consolidated net sales were down at Rs1,352.9 crore from Rs1,569.8 crore in the previous year for the same period and the company's trailing 12-month (TTM) EPS was Rs26.84 per share till the September quarter results of 2009.

The stock's price-to-earnings (P/E) ratio is 29.60 and its book value is Rs277.08 per share. Price-to-book value of the company was at 2.87. The company's dividend yield stood at 2.87.

The quarter under review saw the revenue from the finance and investments segment fall to Rs239.57 crore from the Rs32.99 crore in the previous year quarter with revenue from Asset Management business rise to Rs192.72 crore from Rs.111.14 crore in the preceding year's quarter.

The General Insurance segment contributed Rs664.83 crore which was down from Rs675.17 crore of the previous year quarter. Revenue from the Consumer Finance segment for the quarter was Rs326.30 crore which was up from the Rs322.49 crore in the year-ago quarter. Revenue from others stood at Rs65.39 crore as against Rs135.77 crore in the preceding year quarter.

During the quarter, lower capital gains were booked due to the planned partial stake sale later this year or operating businesses. According to analysts the full benefit of this value unlocking would form a part of the company's net profit for the current fiscal year.