Reliance Capital FY10 net dips 57%

Anil Ambani Group firm Reliance Capital today said its consolidated net profit declined by 57.24 per cent to Rs 434.54 crore for the year ended March 31, 2010, over the same period last year.

Total income rose to Rs 6,110.78 crore for the year ended March 31, from Rs 5,939.98 crore in the same period last year, Reliance Capital said in a filing to the Bombay Stock Exchange.

As on March 31, 2010, the net worth of the company stood at Rs 7,712.5 crore ($2 billion).

Lower capital gains booked in the year as substantial gains to be booked from planned stake sales in operating businesses and thrust on increasing contribution from operating businesses towards profitability," the company said.
    
The board has proposed a dividend of Rs 6.50 per share on the face value of Rs 10 per share to the shareholders.
    
On standalone basis, the company has posted net profit of Rs 339.42 crore, down 64.73 per cent over the same period a year-ago.