Reliance Capital`s Q2 net Profit at Rs 253 Crore

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Leading financial services provider Reliance Capital on Monday reported a consolidated net profit of Rs 253 crore for the quarter ended September 30, 2016. 

 

The net profit grew by one per cent to Rs 253 crore for the second quarter (Q2) of the current fiscal from Rs 250 crore reported for the corresponding period of last year. 

 

However, the Rs 253 crore net profit was reached after the company provided Rs 74 crore to strengthen the reserves of Reliance General Insurance. 

 

"Q2 FY17 Net profit of Rs.327 crore (US$ 49 million) (prior to strengthening of reserves in Reliance General Insurance) - an increase of 31%," the company said in a filing to the BSE. 

 

"Q2 FY17 Net profit of Rs.253 crore (US$ 38 million) (post strengthening of reserves by Rs.74 crore in Reliance General Insurance) - an increase of 1%."