Rel Cap Q2 consolidated net at Rs 200cr

Reliance-Anil Dhirubhai Ambani Group (R-ADAG) firm Reliance Capital has reported a 4% increase in consolidated net profit at Rs 200.07 crore for the second quarter ended September 30, 2007 when compared with Rs 191.99 crore in Q2FY07.

Income from operations was Rs 912 crore for the quarter as compared to Rs 536.51 crore in Q2FY07. Total income has increased to Rs 952.71 crore from Rs 536.86 crore in Q2FY07. Earning per share (EPS) increased by 4% to Rs 8.13 as against Rs 7.83 in the corresponding period of last year.

On a stand alone basis, the net profit increased by 20% at Rs 201.2 crore for the quarter when compared with Rs 167.1 crore for Q2FY07. Total income has increased 76% to Rs 391.2 crore for the quarter as compared to Rs 222.8 crore  in the corresponding period of last year.

As on September 30, 2007, the net worth of the company stood at Rs 5662 crore ($1.4 billion), it has a debt to equity ratio of 0.69.

The assets under management for Reliance Mutual Fund grew by 146% to Rs 70,441 crore as on September 30 this year, Reliance Life Insurance has registered a 165% in new business premium at Rs 650 crore for the first half of this year as against Rs 246 crore in the same period of last year. Reliance General Insurance has registered a growth of 151% in gross premium of Rs 946 crore for the first half of this year as against Rs 378 crore of last year. Reliance Money that launched operations in April this year, has acquired 2 lakh customers. Reliance Consumer Finance that commenced operations in May 2007 has disbursed loans of Rs 2,278 crore till September 30 this year.

Reliance Capital has businesses in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services.