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Reliance Securities' Q1 PBT at Rs 7 cr

Press Trust of India  |  New Delhi 

Securities, the broking and distribution arm of Capital, today said its profit before (PBT) for the first quarter ended June, 2017 -18, rose to Rs 7 crore.

PBT for the April-June quarter of last fiscal, 2016-17, was Rs 28 lakh.

The total for the quarter ended June 30, 2017-18, was Rs 82 crore, up 51 per cent. It had of Rs 54 crore in the June quarter of last year, the company said in a statement.

"Profit Before rose to Rs 7 crore in Q1 FY18, vis-a- vis marginal profit in the corresponding previous period," it said.

"Our growth is driven by transformation we undertook over the last 18 months, with continued focus on market segment along with enhanced focus on distribution of investment products which has driven our profitability," said B Gopkumar, ED & CEO, Securities.

In equity broking, the average daily equities turnover grew to Rs 3,942 crore, an increase of 52 per cent on an year-on-year basis.

The average daily turnover in equity segment rose by 42 per cent to Rs 278 crore, the company said.

Commodity broking accounts rose by 30 per cent to about 85,800 as on June 30, with average daily commodities turnover of over Rs 234 crore.

Wealth management continued its robust growth and ended with assets under management (AUM) at Rs 3,989 crore, an increase of 44 per cent, it said.

As on June 30, there were over 8 lakh broking accounts, up 3 per cent from the year-ago period.

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

First Published: Thu, July 13 2017. 15:07 IST