Reliance Capital posts Rs 2.72 bn profit in Q1, total income at Rs 46.41 bn

The total assets of the company stood at Rs 870.41 billion, an increase of 7%

Reliance Capital Ltd, a part of the Reliance group, on Tuesday said it closed the first quarter with a net profit of Rs 2.72 billion on a total income of Rs 46.41 billion.

In a statement issued here, Reliance Capital said on a consolidated basis its total income for the quarter ended June 30, 2018 stood at Rs 46.41 billion up from Rs 44.44 billion logged in the corresponding period of the previous year.

The company has posted a net profit of Rs 2.72 billion as against a loss of Rs 3.78 billion in the corresponding period of the previous year.

As on June 30, 2018, the company had a net debt equity ratio of 5.18.

According to the statement, the total assets of the company stood at Rs 870.41 billion, an increase of seven per cent.

The consolidated results have been prepared in line with Ind AS. Insurance companies are not covered under Ind AS. Accordingly, the standalone results of Reliance General Insurance and Reliance Nippon Life Insurance have been disclosed on the basis of Insurance Regulatory and Development Authority of India (IRDAI) reporting.