Anil-Ambani controlled Reliance Capital Ltd’s consolidated net profit for first quarter ended June declined by 55 per cent to Rs 34.8 crore from Rs 77 crore in April-June 2010 due to rise in interest costs.
The business environment marked by higher interest rates impacted profits, the company said in a statement. The total income, on consolidated basis, for reporting quarter rose to increased from Rs 12,668.70 million for the quarter ended June 2010 to Rs 14,921.10 million for the quarter ended June 2011.
On standalone basis, its profit grew to Rs 138.72 crore in the first quarter of 2011-12 from Rs 50.41 crore in corresponding quarter last year.
The total income also rose to Rs 719.43 crore from Rs 227.02 crore in the quarter of 2011.
