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RCap Q2 net rises 39% to Rs 352 cr on strong profit

Press Trust of India  |  New Delhi 

Capital today reported a jump of 39 per cent in its consolidated net profit to Rs 352 crore for second quarter ended September as strong performance by all business verticals improved profitability.

The company's net profit was Rs 253 crore in the July- September quarter of 2016-17.

The consolidated during the quarter increased by 7 per cent to Rs 5,254 crore as against Rs 4,926 crore in the year ago period, the company said in a statement.

The Anil Ambani controlled Capital (RCap) said it has reported strong improvement in profitability across all businesses in the second quarter of 2017-18.

The company said it received a tremendous response from investors in listing of Nippon Life Asset Management and Reliance General is on track to be listed by March 2018.

The net worth of the company stood at Rs 16,027 crore as on September 30, 2017. Total assets were up 22 per cent at Rs 88,548 crore by the end of second quarter.

Reliance Nippon Life Asset Management, Reliance Commercial Finance (or Reliance Money), Reliance Home Finance, Reliance General Insurance, Reliance Nippon Life are the group firms of the company and it is also engaged in broking and distribution business.

Shares of the company closed 0.54 per cent up at Rs 470.80 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 19:48 IST