Reliance Capital posts Rs 209 crore net for Q3

Chennai, Feb 10 (IANS) Financial services player Reliance Capital Ltd on Friday said it closed the third quarter of current fiscal with a consolidated net profit of Rs 209 crore.

In statement issued the company said its consoldiated net profit for the third quarter was Rs 209 crore on a total income of Rs 3,964 crore.

According to the company, the net profit was after strengthening of the reserves in Reliance General Insurance Company to the tune of Rs 43 crore.

The company's consolidated income for the period under review stood at Rs 3,964 crore as compared to Rs 2,353 crore in the corresponding period the previous year.

As on December 3, 2016, the net worth of the company stood at Rs 16,149 crore logging an increase of 10 per cent over previous year's figure.

As on December 31, 2016, the total assets of the Company stood at Rs 78,304 crore - an increase of 56 per cent.

As to other highlights of other businesses Reliance Nippon Life Asset Management (RNLAM) managed Rs 3,35,987 crore as on December 31, 2016, across mutual funds, pension funds, managed accounts, offshore funds and alternative investment funds.

The average assets under management of Reliance Mutual Fund for the quarter ended December 31, 2016, were Rs 1,95,845 crore, logging a year-on-year growth of 25 per cent.

Housing finance company Reliance Home Finance Ltd disbursed for the quarter ended December 31, 2016, were Rs 1,203 crore.

Non-life insurance company Reliance General Insurance underwrote a total premium of Rs 855 crore, logging 28 per cent growth.

Life insurer Reliance Nippon Life Insurance earned a total premium of Rs 981 crore during the period under review.

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