Sharp rise in Reliance Capital net

Reliance Capital has reported a consolidated net profit of Rs.401 crore for the second quarter ended September 30, 2012, as compared to Rs.33 crore in the corresponding period last year.

Total income increased to Rs.2,437 crore from Rs.1,573 crore, up 55 per cent.

The sharp rise net profit was on account of increase in commercial finance and gains accrued from the stake sale in Reliance Capital Asset Management, the company said.

As on September 30, 2012, the net worth of the company stood at Rs.11,712 crore, an increase of 49 per cent. Its total assets stood at Rs.39,007 crore, an increase of 16 per cent.