Reliance Capital has reported a multifold rise in bottomline to Rs 401 crore in Q2FY'13 compared to Rs 33 crore in the corresponding previous year quarter on a topline growth of 56% to Rs 2431 crore over the same period led by sale of 26% stake in Reliance Capital asset management (a subsidiary of the company) to Nippon life Insurance company for an amount of Rs 1450 crore.
The results for the current quarter ended September 30, 2012 are not comparable with previous corresponding quarter as Viscount Management Services (Alpha) amalgamated with the company w.e.f. October 01, 2011
56% Y-o-Y increase in consolidated revenue for the quarter ended September 2012 to Rs 2431 crore was led by 217% rise in revenue in Finance & investment segment to Rs 1152 crore along with 8% increase in General insurance business to Rs 572 crore, 7% increase in Commercial finance revenues to Rs 534 crore and 24% rise in other segment revenues to Rs 82 crore. Asset management segment revenues fell 2% to Rs 130 crore.
PBT from finance and investment reported was Rs 543 crore in Q2FY'13 compared to Rs 12 crore in Q2FY'12 while PBT from General Insurance reported loss of Rs 105 crore compared to loss of Rs 29 crore over the same period. Asset management PBT fell 33% to Rs 30 crore while PBT for Commercial Finance rose 31% to Rs 72 crore.
Performance for the quarter ended September 2012
For the quarter ended September 2012, the consolidated net revenue of Reliance capital rose 56% Y-o-Y to Rs 2431 crore primarily driven by 217% increase in Finance and investment revenues to Rs 1152 crore. The revenue in General insurance was up 8% Y-o-Y to Rs 572 crore and commercial finance revenues increased 7% to Rs 534 crore. Others segment revenues rose 24% to Rs 82 crore while asset management revenues fell 2% to Rs 130 crore.
The overall OPM rose 460 bps to 46.5% as claims incurred as a percentage of net sales fell from 22.7% to 14.2%, premium on reinsurance ceded fell from 10.3% to 5% and staff cost fell from 10.1% to 6.9% offset by increase in other expenditure to 27.4% from 15% leading to 73% growth in overall operating profit to Rs 1131 crore. With 1% fall in interest cost at Rs 580 crore, 8% increase in depreciation to Rs 14 crore and effective tax rate of 26% compared to 50% in the corresponding previous year period, the Net Profit after minority interest and share in associates stood at Rs 401 crore compared to Rs 33 crore in the corresponding previous year period
Reliance Capital Asset Management
Reliance Life Insurance
Reliance General Insurance
Reliance Commercial Finance
Performance for the half year ended September 2012
For half year ended September 2012, the consolidated net revenue of the company rose 35% to Rs 4093 crore mainly on account of 144% increase in finance and investment revenues to Rs 1498 crore. The revenue in General Insurance was up 10% to Rs 1234 crore and Commercial finance revenues rose 12% to Rs 1029 crore. Asset Management revenues fell 12% to Rs 256 crore. Others segment revenue rose 10% to Rs 158 crore. The overall OPM was up 290 bps to 43.3% leading a 45% increase in operating profit to Rs 1772 crore.
With 5% higher interest cost at Rs 1148 crore, 8% higher depreciation to Rs 27 crore and 176% higher tax expenses to Rs 171 crore, the Net Profit after minority interest and share in associates stood 556% higher Y-o-Y at Rs 446 crore.
As on September 30, 2012, the net worth of the company stood at Rs 11712 crore.
The shares of the company are currently quoting at around Rs 406
Reliance Capital: Consolidated Results
Reliance Capital: Segment Results