Reliance Capital net rises 86% to Rs 135 cr
Anil Ambani-promoted Reliance Capital has reported an 86% rise in net profit at Rs 135 crore for the quarter ended December 2007. The financial services major has also logged a 3-fold rise in revenues at Rs 376 crore.
As of December 31, 2007, the net worth of the company stood at Rs 5,797 crore while total assets of the company stood at Rs 12,364 crore. The investment portfolio of Reliance Capital amounted to Rs 3,609 crore during the considered period. During the quarter, Reliance Mutual Fund, the mutual fund arm of Reliance Capital, saw an increase in assets under management at Rs 80,779 crore. The number of investors increased to nearly 44 lakhs during the quarter.
The life insurance business of Reliance Capital — Reliance Life Insurance — recorded new ‘business premium income’ worth Rs 1,387 crore for first nine months of the current fiscal. Reliance Life offers 23 products, of which 18 are targeted at individuals and five at group business.
Gross direct premium of Reliance General Insurance for the nine months ended December 31 was Rs 1,524 crore against Rs 611 crore in the corresponding period of the previous year. RGI offers auto insurance, health insurance, home insurance, property insurance, travel insurance, marine insurance, commercial insurance and other insurance products.
Reliance Money has 385,000 customers and distribution network of 4,400 outlets in over 3,500 locations. Reliance Consumer Finance has disbursed loans worth Rs 3,730 crore till December 31. The consumer finance segment, among other financial products, offers personal loans, vehicle loans, home loans, loan against property and SME loans.