Mumbai: Reliance Capital Ltd, the financial services arm of Anil Ambani-controlled Reliance Group, on Monday said its fiscal second quarter profit increased 15%.

Net profit rose to 250 crore for the quarter ended September compared with 217 crore in the corresponding period of last year. Total income rose 13% to 2,361 crore from 2,084 crore in the year period.

As on 30 September, the company’s net worth stood at 14,175 crore, while total assets were at 49,420 crore.

The company’s asset management subsidiary—Reliance Capital Asset Management Ltd (RCAM), which is set to acquire Goldman Sachs’ Indian asset management business for 243 crore, had total assets worth 2.54 trillion at the end of the quarter. RCAM’s profit before tax increased 7% to 122 crore for the September quarter.

Reliance Commercial Finance, which is primarily engaged in the business of lending towards SMEs, commercial vehicles, and infrastructure, disbursed loans worth 2,891 crore during the September quarter—an increase of 10% from a year earlier. At the end of the quarter, the company’s outstanding loan book stood at 16,098 crore, while the gross NPA (non-performing asset) ratio was at 2.6% as against 2.8% as on 30 June, the company said.

Shares of Reliance Capital closed 0.96% lower at 417.20 apiece on BSE on the day the benchmark Sensex lost 0.37%, or 97.68 points, to settle at 26,559.15.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay High court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

Close