Reliance Capital profit surges 77 percent in 2012-13

Mumbai, May 16 (IANS) Reliance Capital Thursday said its net profit surged by 77 percent to Rs.812 crore ($149 million) in the financial year ended March 31, 2013.

The company, a part of Anil Ambani-led Reliance Group, said its consolidated total income jumped by 13 percent to Rs. 7,519 crore ($1.4 billion), largely due to a sharp increase in “topline of general insurance, commercial finance and asset management businesses, and sale of stake in Reliance Capital Asset Management.”

Reliance Capital’s earning per share increased by 77 percent to Rs.33.1.

The company’s total assets jumped to Rs.40,588 crore ($7.5 billion) as on March 31, 2013, registering an increase of 15 percent year-on-year.

Reliance Capital is one of India’s leading private sector financial services companies, having interest in asset management, mutual funds, life and general insurance and broking businesses among others.

Share price of Reliance Capital rose 0.35 percent at Rs.373.70 at the Bombay Stock Exchange (BSE) here Thursday.

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