Reliance Capital posted a 49 per cent drop in the profit after tax to Rs 77 crore for the quarter ended June, as against Rs 151 crore in the corresponding period last year, mainly due to decline in the profit of its general insurance arm.
The total income of the company reduced 14 per cent to Rs 1,266.9 crore from Rs 1,469.3 crore for the same quarter last year. Profit before tax of its mutual fund business went up to Rs 58 crore as against Rs 47 crore in the first quarter of the last financial year.
During the April-June quarter, the shareholders infused Rs 70 crore in the life insurance business and Rs 95 crore in the non-life business.
After reporting a dip in profit after tax and total income for the first quarter, the stock lost Rs 13.85 or 1.77 per cent.
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