Reliance Capital Ltd (RCL) has recorded a net profit of Rs 131.5 crore in Q3 2008-09, against Rs 118.1 crore in the corresponding period, showing an increase of 11%. The company announced its unaudited financial results for the quarter ended December 31, 2008 on Tuesday. Total operating income of Reliance Capital went up 36% and is estimated at Rs 1,572.9 crore during the period, against Rs 1,155.6 crore in the corresponding period a year ago.
Total operating income of the company during the nine months ended December 31, 2008 rose by 35% to Rs 4,429.2 crore against Rs 3,283.3 crore in the year-ago period. Net profit during the period increased 9% year-on-year to Rs 704.0 crore against Rs 643.5 crore.
As on December 31, 2008, the net worth of Reliance Capital stood at Rs 7,249.6 crore. The company ranks among the top 3 Indian private sector financial services groups in terms of net worth.
Total assets of Reliance Capital at the end of 2008 stood at Rs 22,339.6 crore. The investment portfolio of listed equities as on December 31, 2008, amounted to Rs 1,802.6 crore at cost. The company has not raised any fixed deposits from the public.
Incidentally, assets under management (AUM) of the entire Indian mutual fund industry went from Rs 550,657 crore at the end of December 31, 2007 to Rs 421,116 crore at the end of December 31, 2008, a decrease of 23%. The net profit of Reliance Mutual Fund (RMF) was Rs 26 crore for the quarter under review as against Rs 19 crore for the corresponding previous period, showing an increase of 36%.
The asset under management (AUM) of RMF was at Rs 70,230 crore as on December 31, 2008, up from Rs 78,906 crore on December 31, 2007, a decrease of 11%.However, RMF’s market share during the period went up from 14.7% to 16.7%.
Sam Ghosh, managing director and CEO , Reliance Capital, said, ?The number of investors, which had fallen in September and October, have been growing in last two months.We are getting almost 70,000 to 1 lakh retail customers mainly through SIP in recent times.”