Reliance Capital Ltd., a part of Reliance-Anil Dhirubhai Ambani Group and private sector financial services company, reported a lower net profit for the fourth-quarter, both on consolidated and stand-alone basis, on decreased income.
Consolidated Results
The Navi Mumbai-based company reported fourth-quarter consolidated net profit, after minority interest and share of associates, of Rs.265 crore, compared with Rs.329 crore in the year-ago quarter, reflecting a 19 percent decline.
Its quarterly net income from operations stood at Rs.1,650 crore, down by 15 percent from the Rs.1,930 crore, while other income was Rs.16 crore, compared with Rs.25 crore in Q4FY12.
For the quarter, income from 'Finance & Investments' segment totaled Rs.335 crore, while that of 'Asset Management' amounted to Rs.156 crore. Income from 'General Insurance' segment was Rs.594 crore and that from 'Commercial Finance' reported Rs.555 crore. Income for the quarter from 'Others' stood at Rs.84 crore.
For the fiscal year, it reported a consolidated net profit, after minority interest and share of associates, of Rs.812 crore, surged by 77 percent from the Rs.458 crore in 2012.
Total net income, including other operating income, for the year was Rs.7,470 crore, compared with Rs.6,577 crore last year, reflecting a 14 percent growth, mainly on account of increase in top-line of General Insurance, Commercial Finance and Asset Management businesses, and sale of stake in Reliance Capital Asset Management.
Stand-alone Results
The company's fourth quarter stand-alone net profit plummeted by 80 percent to Rs.72 crore from the Rs.355 crore reported in Q4FY12. Total net income, including other operating income, stood at Rs.727 crore, lower by 33 percent from the Rs.1,087 crore in the year-ago quarter.
For the 12 months period, its net profit grew by 28 percent to Rs.662 crore from the Rs.519 crore in 2012. Total net income, including other operating income, was Rs.3,828 crore, compared with Rs.3,268 crore, an increase of 17 percent.
The company said its board had recommended a dividend of 80 percent or Rs.8.00 per equity share of Rs.10 each for the fiscal year 2013.
As as the end of this March, the net worth of the company stood at Rs.11,991 crore, an increase of three percent over last year.
As on March, the total assets of the company were Rs.40,588 crore, an increase of 15 percent over last year, whereas the investment portfolio of listed equities was Rs.1,512 crore, at cost.
At the BSE, Reliance Capital closed Thursday's trading at Rs.373.70, up 0.35 percent from the previous close.
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