Home / Companies / Company-results /  R-Cap profit up 65% at `165 crore

Reliance Capital Ltd (R-Cap), the financial services arm of the Anil Ambani-led Reliance Group, posted a 65% growth in net profit to 165 crore for the quarter ended 31 December.

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.

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