Mumbai: Reliance Capital Ltd (R-Cap) on Friday reported a net earnings increase of 2% inside the Marchsector from a year earlier after putting aside a special reserve for its coverage unit.
Consolidated net profit for the fourth sector grew to Rs.415 crore, from Rs.407 crore a year ago, stated theorganization, that’s a part of Anil Ambani’s Reliance institution.
The monetary offerings corporation set apart Rs.111 crore as a unique reserve for Reliance lifestylescoverage Co. Ltd, all through the 3-month duration.
“that is a enterprise reserve because of change in product mix within the life insurance business enterprise,” a spokesperson for the organisation said.
Consolidated revenue in the sector expanded thirteen% to Rs.2,807 crore from Rs.2,484 crore mentioneda year in the past.
other income in the region dropped to Rs.21 crore from Rs.58 crore a year ago.
As of 31 March 2016, the corporation’s general property stood at Rs.sixty seven,112 crore, an growth of40% on a yr-on-yr foundation, it said in a statement.
institution employer Reliance business Finance Ltd noticed its loan e-book rise to Rs.10,940 crore, as of 31 March, an boom of 6% from a 12 months ago.
Disbursements for the yr were at Rs.eight,138 crore, up 17% from final year.
The agency’s gross non-performing asset ratio extended to three.1% of its mortgage book on the give up of the fourth region, compared with 2.6% as on 31 December.
Reliance domestic Finance Ltd, a one hundred% owned subsidiary of Reliance Capital, saw its top notchmortgage e book boom 34% from last year to Rs.6,792 crore as on 31 March.
For the January-March sector, the property beneath control for Reliance Mutual Fund were at Rs.1.fifty eight trillion, up 16% yr-on-year, the business enterprise stated in its declaration.
Reliance life coverage mentioned new enterprise top rate well worth Rs.1,558 crore, whilst renewal top rate changed into at Rs.2,840 crore for the 12 months ended 31 March.
For Reliance widespread coverage Co. Ltd, the gross written top rate become at Rs.2,868 crore, up four% from a year in the past.
As on 31 March, the full funding book become at Rs.5,381 crore, up 7% year-on-year.
On Friday, the Reliance Capital inventory closed at Rs.383.fifty five at the BSE, up 0.41% from itspreceding near, at the same time as the benchmark Sensex declined zero.13%, or 33.seventy one pointsto 22,228.50.
Reliance organization agencies have sued HT Media Ltd, Mint’s writer, and 9 others in the Bombay highcourt over a 2 October 2014 the front–web page story that they have got disputed. HT Media is contesting the case.
