Reliance Capital reports 94.20% fall in Q1 net profit

Reliance Capital has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a fall of 94.20% in its net profit at Rs 8.0 crore for the quarter, as compared to Rs 138.0 crore for the same quarter in the previous year.  However, total income of the company remains flat to Rs 719.0 crore for the quarter under review as compared to Rs 719.0 crore for the quarter ended June 30, 2011.

The results for the current quarter are not comparable with previous corresponding quarter as Viscount Management Services (Alpha) amalgamated with the company with the effect from October 01, 2011.

Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking, depository services, distribution of financial products, investment banking, wealth management services, commercial finance, exchanges and other activities in financial services.