Reliance Capital net profit rises 22.5% in Q1

Financial Services firm Reliance Capital on Friday reported a 22.5 per cent rise in net profit at Rs 201 crore for the first quarter ended June 30.

The ADAG company had posted a net profit of Rs 164 crore in the April-June quarter of 2014-15.

Total income also rose to Rs 2,457 crore during the first quarter from Rs 2,144 crore in the three month period of 2014-15 fiscal, Reliance Capital said in statement.

As on June 30, the net worth of the company stood at Rs 13,867 crore, an increase of 10 per cent.

Among the group companies, Reliance Mutual Fund's profit before tax was Rs 108 crore for the quarter ended June 30.

Reliance Capital Asset Management (RCAM) managed Rs 2,43,162 crore at the end of first quarter, across mutual funds, pension funds, managed accounts and offshore funds.

The fund house average assets under management (AAUM), for the quarter ended June 30, were Rs 1,44,693 crore.

With regard to the life insurance venture, it said, the new business premium was Rs 301 crore for the quarter ended June 30, while the Renewal Premium was Rs 451 crore for the quarter, an increase of 8 per cent.

The life insurance firm achieved a profit of Rs 35 crore for the quarter, an increase of 2 per cent. Another entity Reliance General Insurance posted 22 per cent increase in net profit at Rs 30 crore for the quarter. The Gross Written Premium rose by 10 per cent to Rs 863 crore during the quarter.