The company had reported net profit of Rs 45 crore for the April-June quarter of last fiscal, Reliance Capital said in a statement. (Agencies)
According to Reliance Capital CEO Sam Ghosh, three subsidiaries contributed to the company's performance.
There was turn around in case of Reliance General which recorded a profit of Rs 10 crore as against a loss of Rs 20 crore for the quarter ended June 30, 2012, he said.
Besides, there was increase in both topline and bottomline of the Reliance Mutual Fund, he said, adding that consumer finance arm also contributed as there was turnaround in the segment.
The total income of the company rose to Rs 1,930 crore in the quarter, against a total income of Rs 1,662 crore in the year-ago period, an increase of 16 percent.
This was mainly on account of increase in topline of General Insurance and Asset Management businesses, he added. As on June 30, the total assets of the company stood at Rs 42,155 crore.
Reliance Capital is the financial services arm of Anil Ambani-led Reliance Group and is present in businesses such as asset management, mutual fund, insurance, brokerage besides other segments of the financial services sector.
As on June 30, 2013, the net worth of the company stood at Rs 12,138 crore, an increase of 3 percent. However, shares of the company closed at Rs 360.85, down 2.76 percent on the BSE.
The company had reported net profit of Rs 45 crore for the April-June quarter of last fiscal, Reliance Capital said in a statement.