Reliance Capital Q2 net up 15% at Rs 250 cr

Financial sector conglomerate Reliance Capital today reported 15% increase in consolidated net profit at Rs 250 crore for the quarter ended September 30, helped by growth in general insurance and asset management businesses.

The company's consolidated net profit in the same period a year ago was Rs 217 crore.

Total income also increased by 13% to Rs 2,361 crore during the period this year compared to Rs 2,084 crore in the same period last year, Reliance Capital said in a statement.

Reliance General Insurance, the non-life insurance arm of Reliance Capital, posted 21% increase in net profit at Rs 30 crore.

At the same time, profit before tax of Reliance Capital Asset Management, the mutual fund arm of Reliance Capital, rose by 7% to Rs 122 crore during the quarter.

Reliance Capital Asset Management managed Rs 2,54,607 crore as on September 30, across mutual funds, pension funds, managed accounts and offshore funds.

Reliance Life achieved a profit of Rs 15 crore for the quarter ended September 30, 2015.

The declared results of Reliance Capital include consolidation of 48% stake in Reliance Life Insurance, it said.

On standalone basis, Reliance Capital net profit grew by 59% at Rs 108 crore during July-September 2015 as compared to Rs 68 crore in the same period a year ago.