Reliance Cap shares up nearly 5 pc on higher Q2 profit

Shares of Reliance Capital climbed nearly 5 per cent today after the company reported 20 per cent rise in its second quarter net profit.
Scrip of the financial services firm settled with a gain of 4.59 per cent at Rs 502.15 on the BSE. In intra-day trade, it rose by 4.97 per cent to Rs 504.
At the NSE, the stock ended at Rs 502.25, up 4.62 per cent from its previous close.
In terms of volume, 7.86 lakh shares of the company changed hands at the BSE, while more than 50 lakh shares were traded at the NSE during the day.

Reliance Capital had on Friday reported 20 per cent rise in its second quarter net profit to Rs 217 crore, helped by robust growth in mutual fund, commercial finance and general insurance businesses.
The total income rose by 12 per cent to Rs 2,084 crore for the quarter ended September 30, the company had said in a release.

In asset management business, the profit before tax rose by 71 per cent to Rs 114 crore, while average assets under management grew to Rs 1,22,068 crore.
Among other businesses, commercial finance and general insurance also witnessed significant growth.
In the year-ago period, net profit stood at Rs 181 crore while total income was Rs 1,869 crore.

Reliance Life Insurance's net profit touched Rs 53 crore in the latest September quarter. During the same period, the net profit of Reliance General Insurance stood at Rs 25 crore.