Reliance Capital Blog

Reliance Capital, India's Berkshire Hathaway

Wednesday, July 25, 2007

Rel Capital Q1 net profit up at Rs 302.43 cr

Reliance Capital posted 219% rise in net profit of Rs 302.43 crore for the quarter ended June 30, 2007 compared with Rs 94.53 crore in the same quarter previous year.

The company’s total income increased to Rs 513.77 crore in the June quarter from Rs 132.42 crore a year ago.

On consolidated basis, the company registered a net profit (after minority interest and share of profit of associates) of Rs 325.26 crore for the April-June quarter compared with Rs 113.03 crore in the corresponding quarter previous year.

Total income stood at Rs 1176.20 crore in the June quarter from Rs 356.19 crore last year.

Tuesday, July 03, 2007

Reliance Capital to infuse Rs 2,000 cr in life insurance biz

Reliance Capital is planning to invest over Rs 2,000 crore in its life insurance business in the next few years.

"We will infuse over Rs 2000 crore in life insurance business in the next few years," Reliance Capital Chairman Anil Ambani said addressing shareholders at the company's AGM.

The company's life insurance business has a pan-India presence with total 16 products covering savings, protection and investment requirements.

Reliance Cap to launch consumer finance biz soon

Reliance Capital, which is present in mutual fund, insurance, stock broking and private equity space, on Tuesday said it will start its consumer finance business shortly.

"We will start the consumer finance business shortly," Reliance Capital Chairman Anil Ambani said while addressing the shareholders at the company's AGM.

While denying any move to become a bank, he said the company may consider promoting or acquiring a bank if policy permits.

"The company would also ramp up it work force to 50,000 in the next two years," Ambani said.

Reliance Capital group company- Reliance Money has emerged as the largest money transfer company in private sector recently.

Reliance Money, an electronic transaction platform, offers wide range of asset classes. It provides a single window access to equities, commodity derivatives, mutual funds, IPOs, life and general insurance products, offshore investments, money transfer, money changing and credit cards.