The Anil Dhirubhai Ambani Group firm, Reliance Capital Ltd (RCL), on Thursday reported a 86% jump in its third quarter (Q3) net profit, helped by 210% growth in total income.
The stand-alone net profit for the fiscal 2008 October-December quarter stood at Rs135 crore, compared with Rs73 crore in the year-ago quarter. Total income jumped to Rs376 crore in the latest quarter, from Rs121 crore reported in the year-ago period, the firm said.
On a consolidated basis, RCL’s net profit rose 28% to Rs118 crore for the just concluded quarter from Rs92 crore in the same period last year, while the total income witnessed a growth of 165%, to Rs1,156 crore from Rs436 crore in the corresponding quarter last year. Its mutual fund and insurance businesses contributed to the income.
RCL shares fell 6.56% to Rs1,840.90 on the Bombay Stock Exchange even as the exchange’s benchmark index, the Sensex, closed 2.12% down at 17,221.74.
The stock has risen more than 200% in the past one year, but the recent market fall has eroded some of the gains with it losing more than 35% since 14 January.
For the first nine months of the current fiscal year, the group has reported a net profit of Rs643 crore, up more than 60% from the Rs397 crore it earned a year ago.Total income for the same period grew 147% to Rs3,284 crore.