Anil Ambani Group firm Reliance Capital today reported 52% decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.
"Lower capital gains were booked in the quarter, owing to the planned partial stake sale later this year in the operating businesses, subject to necessary approvals.
"Being the sole beneficiary of its operating businesses, the full benefit of this value unlocking will form a part of Reliance Capital's net profit for the current financial year," the company said in release.
Total income of the company declined to Rs 1,488.8 crore for the December quarter, from Rs 1,573.5 crore in the same period previous fiscal.
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