Reliance Capital Ltd., a part of Reliance-Anil Dhirubhai Ambani Group and private sector financial services company, swung to profit in the fourth-quarter on consolidated basis, on increased income.
Consolidated Results
The Navi Mumbai-based company reported fourth-quarter net profit of Rs.329.32 crore or Rs.13.41 per share, compared with a net loss of Rs.6.46 crore or Re.0.26 per share in the year-ago quarter.
The company said the consolidated net profit for the quarter was Rs.505 crore, before one-time provisioning for third party motor claim reserve.
Its quarterly net income from operations stood at Rs.1,930.11 crore, compared with Rs.1,553.61 crore, an increase of 24 percent, while other income was Rs.64.92 crore, compared with Rs.27.11 crore in Q4FY11.
For the quarter, income from 'Finance & Investments' segment totaled Rs.714.47 crore, while that from 'Asset Management' amounted to Rs.144.36 crore. Income from 'General Insurance' segment was Rs.539.49 crore and that from 'Commercial Finance' reported Rs.556.89 crore. Income for the quarter from 'Others' stood at Rs.115.91 crore.
For the fiscal year, it reported a consolidated net profit of Rs.457.76 crore, up by 57 percent from the Rs.291.18 crore in 2011. Total income, including other operating income, was Rs.6,576.98 crore, compared with Rs.5,433.32 crore, reflecting a 21 percent growth, mainly on account of sale of stake in the life insurance business, and increase in top-line of commercial finance and broking and distribution businesses.
Stand-alone Results
The company's fourth quarter stand-alone net profit rose more than three-fold to Rs.356.14 crore or Rs.14.50 per share from the Rs.112.37 crore or Rs.4.57 per share reported in Q4FY11. Total income, including other operating income, rose by 42 percent to Rs.1,127.31 crore from the Rs.792.02 crore in the year-ago quarter.
For the 12 months period, its net profit grew by percent to Rs.519.34 crore, up by 125 percent from the Rs.229.27 crore in 2011. Total income, including other operating income, was Rs.3,267.52 crore, compared with Rs.1,877.64 crore, an increase of 74 percent.
The company said its board had recommended a dividend of 75 percent or Rs.7.50 per equity share of Rs.10 each for the fiscal year 2012.
As as the end of this March, the net worth of the company stood at Rs.11,696 crore, and it ranks No.1 amongst the Indian financial services groups in terms of net worth, it said.
As on March, the total assets of the company were Rs.35,344 crore, an increase of ten percent over the previous corresponding period, whereas the investment portfolio of listed equities was Rs.1,912 crore, at cost.
At the BSE, Reliance Capital shares are currently trading at Rs.308.60, up 6.08 percent from the previous close.
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by RTT Staff Writer
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