R-Cap profit up 65% at `165 crore1 min read . Updated: 07 Feb 2014, 04:55 PM IST
Revenue rose 10% over a year earlier to `1,889 crore
Revenue rose 10% over a year earlier to ₹ 1,889 crore as R-Cap’s life insurance, general insurance and commercial finance businesses improved significantly year-on-year.
The commercial finance business’ net interest margin—the difference between its cost of funds and the interest rate at which it lends money to customers, a key indicator of profitability—expanded by 140 basis points year-on-year to 5.6% in the October-December period.
One basis point is one-hundredth of a percentage point.
R-Cap’s share price gained 1.02% to close at ₹ 321.55 each on Friday on BSE, while the benchmark index, Sensex, gained 0.32% to close at 20,376.56 points.