Anil Ambani group firm Reliance Capital today said its profit fell 55% to Rs 34.8 crore in the first quarter of the current fiscal.
The company's consolidated income increased 18% to Rs 1,492.1 crore during April-June quarter against Rs 1,266.9 crore in the year-ago period, Reliance Capital said in a statement.
The company said that it posted a "net profit of Rs 34.8 crore ($8 million), against Rs 77 crore in the corresponding period, a decrease of 55%, mainly on account of higher interest rate environment".
Operating profits from major businesses increased by 78% to Rs 104.7 crore ($23 million) from Rs 58.7 crore for the corresponding period in the previous fiscal, it said.
As on June 30, 2011, the net worth of the company stood at Rs 7,834.5 crore ($ 2 billion).
The company ranks among the top 4 Indian private sector financial services groups in terms of net worth.
