Mumbai Reliance Capital, controlled by Anil Ambani, on Monday posted a 527 per cent jump in net profit at Rs 157.4 crore for the quarter ending September 30, 2005 as compared to Rs 25.07 crore in the year-ago period.
The total income has increased 160 per cent to Rs 181.28 crore for the quarter ended September 30, 2005 from Rs 69.71 crore in the same period last fiscal, the company informed the Bombay Stock Exchange.
The Group has posted a consolidated net profit (including associates) of Rs 162.75 crore.
Total income of the group is Rs 246.17 crore for the second quarter of current fiscal.
During this period under review, the company made a preferential offer of equity shares to Anil Dhirubai Ambani Enterprise, and long term institutional investors, amounting to Rs 2,673 crore to strengthen the company's financial position.
As a result, the company has increased the equity capital to Rs 207 crore, and the net worth stood at Rs 3,535 crore as on September 30, 2005.
On conversion of the equity warrants, the net worth should increase to over Rs 4,300 crore, it said.
ADAE has Reliance Mutual Fund (RMF), Reliance Capital Asset Management (RCAM) as group companies under its banner.
Reliance Capital has interest in assets management and mutual funds, stock broking, life and general insurance, proprietary investments and private equity.
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