Reliance Capital net zooms by 166% at $14.76M

By agencies   |   Tuesday, 24 January 2006, 08:00 Hrs
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MUMBAI: For the third quarter of 2005-06, Anil Ambani headed Reliance Capital Ltd has reported a 166 percent increase in net profit at $14.76 million against $5.54 million during the same period last year. Total income of the company has also gone up to $18.8 million from $16.28 million a year-ago period.

For the nine-month period, the company reported a net profit of $57.27 million ($16.13 million). Total income stood at $75 million ($47.95 million). During the period under review, the company made a preferential offer of shares amounting to $607.5 million to Anil Dhirubhai Ambani Enterprises and long-term institutional investors.

As a result, the equity capital of the company increased to $47.04 million. As on December 2005, the company's net worth stood at $818.18 million and it will go up to $977.27 million with the conversion of outstanding equity warrants. With this Reliance Capital has secured a place among the top three domestic private sector financial services companies in terms of net worth.

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