Reliance Capital Q3 profit drops 11% to Rs 209 crore
Reliance Capital�s broking and distribution business profit stood at Rs 14 crore in the October-December quarter, 2016-17 as against marginal profits in the corresponding previous period.
Reliance Capital on Saturday reported a consolidated net profit of Rs 209 crore for the third quarter of the current fiscal, a drop of 11% from the year-ago period, as it made beef up reserves in general insurance business.
However, the company's total revenue increased to Rs 3,964 crore in the October-December quarter of the current fiscal, from Rs 2,353 crore in the year-ago period, Reliance Capital said in a statement.
At the end of December, Reliance Nippon Life Asset Management managed ₹3,35,987 crore across mutual funds, pension funds, managed accounts, offshore funds and alternative investment funds.
Reliance Mutual Fund's profit before tax stood at Rs 152 crore in the third quarter of the current fiscal, a growth of 8 percent from year-ago period.
Reliance Commercial Finance reported a 2% growth in profit before tax at Rs80 crore, while the profit before tax of Reliance Home Finance too climbed 3% to Rs35 crore and Reliance General Insurance registered an increase of 20% in its profit to Rs18 crore.
The company’s broking and distribution business profit stood at Rs14 crore in the October-December quarter, 2016-17 as against marginal profits in the corresponding previous period.
Reliance Capital, a part of the Reliance Group, is one of country’s leading private sector financial services companies.