Reliance Capital Q4 net at Rs 417 crore

Reliance Capital, an Anil Ambani-led Reliance Group company, on Thursday said it closed the fourth quarter of the 2016-17 fiscal with a consolidated net profit of Rs 417 crore as against Rs 415 crore during the corresponding period of the previous year.

According to the company, its total income for the last quarter stood at Rs 5,086 crore, up from Rs 2,828 crore earned during the corresponding period of previous year.

The company said the fourth quarter net profit stood at Rs 460 crore prior to strengthening of the reserves in Reliance General Insurance (Rs 43 crore).

As on March 31, 2017, the net worth of the company stood at Rs 16,548 crore -- an increase of eight per cent, while its total assets as on the date stood at Rs 82,209 crore -- an increase of 22 per cent.

For the fiscal, Reliance Capital earned a total income of Rs 17,640 crore, up from Rs 9,998 crore earned last fiscal.

The net profit for the fiscal stood at Rs 1,086 crore as against Rs 1,101 crore posted last fiscal.

According to the company statement, the proposed dividend has been increased to Rs 10.50 per share.

Group companies have also logged growth in business last year.

Reliance Nippon Life Asset Management registered an income of Rs 1,436 crore from its operations, up by nine per cent over previous year's figures.

The company is India's largest asset manager, with assets under management, as on March 31, 2017, at Rs 3,58,059 crore -- a 25 per cent increase over the previous year, Reliance Capital said.

Reliance Commercial Finance logged eight per cent business growth disbursing Rs 8,827 crore last fiscal and the assets under management (including securitised portfolio) were Rs 16,759 crore -- an increase of 11 per cent over last year.

Similarly, Reliance Home Finance disbursed Rs 7,333 crore last fiscal -- up by 87 per cent over previous year.

As on March 31, 2017, the assets under management (including securitised portfolio) were Rs 11,174 crore.

On its part Reliance Life Insurance earned a total premium (net of reinsurance) of Rs 3,999 crore while non-life insurer Reliance General Insurance closed 2016-17 with a total gross written premium of Rs 4,007 crore, logging a growth of 40 per cent over previous year's figure.

The Reliance Capital scrip closed at Rs 669.80 on the bourse on Thursday, up by 4.57 per cent.

--IANS

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