MUMBAI: Financial services conglomerate Reliance Capital on Friday reported 53 per cent rise in its fourth quarter net profit to Rs 407 crore, driven by robust gains in its mutual fund and general insurance businesses.
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The total income in the quarter ended March 31, 2015 rose by 37 per cent to Rs 2,527 crore.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, said that its net profit for the full fiscal ended March 31 rose by 34 per cent to Rs 1,001 crore. The total income for the fiscal rose by 17 per cent to Rs 8,861 crore.
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The total income in the quarter ended March 31, 2015 rose by 37 per cent to Rs 2,527 crore.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, said that its net profit for the full fiscal ended March 31 rose by 34 per cent to Rs 1,001 crore. The total income for the fiscal rose by 17 per cent to Rs 8,861 crore.
The company's mutual fund arm, Reliance Capital Asset Management Company (RCAM) recorded a profit before tax of Rs 455 crore for the full year, up by 29 per cent, while Reliance General Insurance's profit rose 27 per cent to Rs 81 crore.
Reliance Cap has presence across mutual fund, insurance, broking and a host of other businesses in the financial services sector, while it is keenly awaiting to foray into banking as and when the regulatory framework permits.
Shares of the company were up 1.48 per cent at Rs 393.50 on BSE.
As on March 31, 2015, Reliance Capital's net worth stood at Rs 13,547 crore ($2.2 billion) — an increase of 9 per cent from the year ago level. The total assets rose by 4 per cent to Rs 47,440 crore ($7.6 billion).
The company also said that Sumitomo Mitsui Trust Bank invested Rs 371 crore and acquired 2.8 per cent stake through preferential allotment in March 2015. Besides Nippon Life acquired 9 per cent stake in RCAM for Rs 657 crore and raised its stake to 35 per cent in February 2015.
The company said that Reliance Capital Asset Management managed Rs 2,44,649 crore ($39.3 billion) worth assets as on March 31 across mutual funds, pension funds, managed accounts and offshore funds.
Reliance Mutual Fund is amongst the top mutual funds in India, in terms of AUM, with market share of 11.5 per cent.
Its average assets under management (AAUM), for the quarter ended March 31, 2015, were Rs 1,37,124 crore ($22 billion) — an increase of 32 per cent.
It has total 66 schemes comprising 26 equity oriented schemes, 32 debt oriented schemes, 7 exchange traded funds and 1 Fund of funds.
RCAM's income from its operations was Rs 955 crore for the full fiscal, registering a growth of 23 per ent, while profit before tax rose 29 per cent to Rs 455 crore.
Reliance Commercial Finance disbursed loans worth over Rs 10,400 crore for the full year, up 7 per cent, while its profit before tax rose 3 per cent to Rs 441 crore.
The life insurance unit Reliance Life Insurance (RLI) recorded New Business Premium of Rs 2,070 crore for the full fiscal, up 7 per cent and revenue premium rose 9 per cent to Rs 2,551 crore. It posted a profit of Rs 135 crore.
In equity broking, the number of accounts rose 4 per cent to 7,51,000 an average daily equities turnover of over Rs 1,700 crore, up 39 per cent.
The commodity broking accounts rose by 14 per cent to nearly 54,600, with average daily commodities turnover at Rs 288 crore.
The broking business had revenues of Rs 187 crore (up 35 per cent), while profit before tax was Rs 5 crore for the year ended March 31, 2015.
In wealth management, the AUMs as on March 31, 2015, increased to over Rs 1,360 crore, up 69 per cent in a year. The business generated revenues of Rs 98 crore.
Reliance Cap has presence across mutual fund, insurance, broking and a host of other businesses in the financial services sector, while it is keenly awaiting to foray into banking as and when the regulatory framework permits.
Shares of the company were up 1.48 per cent at Rs 393.50 on BSE.
As on March 31, 2015, Reliance Capital's net worth stood at Rs 13,547 crore ($2.2 billion) — an increase of 9 per cent from the year ago level. The total assets rose by 4 per cent to Rs 47,440 crore ($7.6 billion).
The company also said that Sumitomo Mitsui Trust Bank invested Rs 371 crore and acquired 2.8 per cent stake through preferential allotment in March 2015. Besides Nippon Life acquired 9 per cent stake in RCAM for Rs 657 crore and raised its stake to 35 per cent in February 2015.
The company said that Reliance Capital Asset Management managed Rs 2,44,649 crore ($39.3 billion) worth assets as on March 31 across mutual funds, pension funds, managed accounts and offshore funds.
Reliance Mutual Fund is amongst the top mutual funds in India, in terms of AUM, with market share of 11.5 per cent.
Its average assets under management (AAUM), for the quarter ended March 31, 2015, were Rs 1,37,124 crore ($22 billion) — an increase of 32 per cent.
It has total 66 schemes comprising 26 equity oriented schemes, 32 debt oriented schemes, 7 exchange traded funds and 1 Fund of funds.
RCAM's income from its operations was Rs 955 crore for the full fiscal, registering a growth of 23 per ent, while profit before tax rose 29 per cent to Rs 455 crore.
Reliance Commercial Finance disbursed loans worth over Rs 10,400 crore for the full year, up 7 per cent, while its profit before tax rose 3 per cent to Rs 441 crore.
The life insurance unit Reliance Life Insurance (RLI) recorded New Business Premium of Rs 2,070 crore for the full fiscal, up 7 per cent and revenue premium rose 9 per cent to Rs 2,551 crore. It posted a profit of Rs 135 crore.
In equity broking, the number of accounts rose 4 per cent to 7,51,000 an average daily equities turnover of over Rs 1,700 crore, up 39 per cent.
The commodity broking accounts rose by 14 per cent to nearly 54,600, with average daily commodities turnover at Rs 288 crore.
The broking business had revenues of Rs 187 crore (up 35 per cent), while profit before tax was Rs 5 crore for the year ended March 31, 2015.
In wealth management, the AUMs as on March 31, 2015, increased to over Rs 1,360 crore, up 69 per cent in a year. The business generated revenues of Rs 98 crore.
Source - Times OF India
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