Reliance Capital posts 20-percent jump in net profit

Reliance Capital, a part of the Anil Ambani-led group, Friday

reported a 20 percent jump in net profit on a total income of Rs.2,084 crore for the second quarter of this financial year, which was up 12 percent.

The company's net profit stood at Rs.217 crore.

The company said its book value had also increased to Rs.525 per share even as its total assets had rose 7 percent to Rs.44,594 crore ($7.2 billion). While the net profit of its general insurance arm was up 53 percent, that of commercial finance rose 5 percent.

As regards its asset management company, the funds under the disposal across mutual funds, pension funds, off shore funds and managed accounts rose to $36 billion.

The asset under management of its mutual fund rose 31 percent to $20.1 billion, and the net profit of the parent was up 71 percent, the company said in a filing with the Bombay Stock Exchange.

The filing came after the close of markets.

Reliance Capital a leading private sector financial services companies. It ranks amongst the top private sector financial services and banking groups, in terms of net worth. The company's scrip is also a constituent of the CNX Nifty Junior and MSCI India.