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Reliance Capital Q3 net profit up 68%

Reliance Capital Q3 net profit up 68%
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First Published: Sat, Feb 12 2011. 05 05 PM IST
Updated: Sat, Feb 12 2011. 05 05 PM IST
Mumbai: Reliance Capital Ltd (R-Cap), the financial services arm of the Reliance Group, controlled by Anil Ambani, posted a 68% year-on-year growth in its net profit for the quarter ended 31 December at Rs106.3 crore.
The rise in profitability was despite a 8% dip in the company’s revenue in the same period to Rs1,368.9 crore, according to a statement released by the company to the stock exchanges on Saturday.
Around 85% of the company’s net profit came from R-Cap’s mutual funds business. The segment recorded a net profit of Rs91 crore, a 23% increase from the corresponding period a year-ago.
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First Published: Sat, Feb 12 2011. 05 05 PM IST