Reliance Commercial Finance (RCFL) today reported an improved profitability matrix, with company's profit before tax (PBT) growing by 2 per cent from a year ago to Rs 92 crore in the second second quarter ended September.
It is a non-listed 100 per cent subsidiary of Reliance Capital.
Total income stood at Rs 502 crore during July-September quarter of 2017-18, up 7 per cent from a year ago, it said in a statement.
On asset front, the gross non-performing assets (NPAs) stood at 4.1 per cent by the end of September quarter of this fiscal.
"We have made strong progress in the second quarter, beginning with re-balancing the portfolio in line with our long term strategy. We continue to see good traction in SME loan growth," said Devang Mody, ED and CEO, RCFL.
Launch of digital lending platform for two wheeler loans is a significant step in our retail lending foray, he added.
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