Reliance Capital posts Rs 272 crore profit in Q1

Mumbai : Reliance Capital Ltd, a part of the Reliance group, on Tuesday said it closed the first quarter with a net profit of Rs 272 crore on a total income of Rs 4,641 crore.

In a statement issued here, Reliance Capital said on a consolidated basis its total income for the quarter ended June 30, 2018 stood at Rs 4,641 crore up from Rs 4,444 crore logged in the corresponding period of the previous year.

The company has posted a net profit of Rs 272 crore as against a loss of Rs 378 crore in the corresponding period of the previous year.

As on June 30, 2018, the company had a net debt equity ratio of 5.18.

According to the statement, the total assets of the company stood at Rs 87,041 crore, an increase of seven per cent.

The consolidated results have been prepared in line with Ind AS. Insurance companies are not covered under Ind AS. Accordingly, the standalone results of Reliance General Insurance and Reliance Nippon Life Insurance have been disclosed on the basis of Insurance Regulatory and Development Authority of India (IRDAI) reporting.