Religare Enterprises today reported its standalone net loss of Rs 30.50 crore for the second quarter ended September 30. It had posted a net loss of Rs 39.54 crore in the July- September quarter of 2017-18. Total income of the company was at Rs 17.86 crore during the second quarter of 2017-18 compare to Rs 11.85 crore in same period previous fiscal. In a statement issued separately, Religare Enterprises said it has appointed former Home Secretary S Lakshminarayanan as its new executive chairman. He is currently non-executive chairman of Shriram Transport Finance. Following this board decision, promoter Malvinder Mohan Singh will relinquish his position as non-executive chairman and continue as a non-executive board member.
He also resigned as CEO. Besides, the board has also roped in former Deputy Governor of Reserve Bank of India Kishori Udeshi. The statement further said the board has expressed its intent to raise primary capital in Religare Enterprises and its key subsidiaries. It will review various strategic options, including partnerships with complimentary businesses. Religare Enterprises stock closed 5.72 per cent down at Rs 42 per unit on BSE.
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