Financial services conglomerate Reliance Capital on Friday reported 53 per cent rise in its fourth quarter net profit to Rs. 407 crore, driven by robust gains in its mutual fund and general insurance businesses.
The total income in the quarter ended March 31, 2015 rose by 37 per cent to Rs. 2,527 crore.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, said that its net profit for the full fiscal ended March 31 rose by 34 per cent to Rs. 1,001 crore.
The total income for the fiscal rose by 17 per cent to Rs. 8,861 crore.
The company’s mutual fund arm, Reliance Capital Asset Management Company (RCAM) recorded a profit before tax of Rs. 455 crore for the full year, up by 29 percent, while Reliance General Insurance’s profit rose 27 per cent to Rs. 81 crore.
Reliance Cap has presence across mutual fund, insurance, broking and a host of other businesses in the financial services sector, while it is keenly awaiting to foray into banking as and when the regulatory framework permits.
