Posted on Saturday, 30th January 2010 by Admin
Anil Ambani Group firm Reliance Capital on Saturday reported 52 per cent decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.
“Lower capital gains were booked in the quarter, owing to the planned partial stake sale later this year in the operating businesses, subject to necessary approvals.
“Being the sole beneficiary of its operating businesses, the full benefit of this value unlocking will form a part of Reliance Capital’s net profit for the current financial year,” the company said in release.
Total income of the company declined to Rs 1,488.8 crore for the December quarter, from Rs 1,573.5 crore in the same period previous fiscal.
As on December 31, 2009, the net worth of the company stood at Rs 7,832.5 crore ($2 billion).
On the standalone basis, the company reported net profit of Rs 41 crore for the October-December quarter, down 64 per cent over the year-ago period.
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Tags: Capital Gains, Gains, Lower Capital, Lower Capital Gains
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