Reliance Capital shares zoom as company posts Rs 329.32 cr profit in Q4

Reliance Capital shares surged more than 7 per cent on Monday after it posted consolidated net profit of Rs 329.32 crore in the fourth quarter of 2011-12.

At 12.29 pm, shares of the Anil Dhirubhai Ambani Group (ADAG) company were trading 7.22 per cent higher on the Bombay Stock Exchange (BSE) at Rs 311.90.

At the same time, the Reliance Capital scrip was up 7.34 per cent on the National Stock Exchange (NSE) at Rs 312.15.

In terms of volume, 6.97 lakh shares of the company were traded on BSE, while more than 27 lakh shares changed hands on NSE.

Reliance Capital had on Saturday reported a profit of Rs 329.32 crore ($65 million) in the January-March 2011-12 quarter, against Rs 6.46 crore loss during the same quarter in 2010-2011.

The company's total income increased to Rs 2,001.86 crore for the quarter ended March 31, 2012, as compared to Rs 1,600.33 crore during the corresponding period of 2010-11.

Reliance Capital, a part of Anil Ambani-led Reliance Group, posted a net profit after taxes, minority interest and share of profit/(loss) of associates of Rs 457.76 crore for the year ended March 31, compared to Rs 291.18 crore in the previous year.

The company's total income in 2011-12 increased to Rs 6,626.86 crore as compared to Rs 5,535.9 crore in 2010-11. Net worth of the company grew 50 per cent to Rs 11,696 crore.

The company ranks number one among Indian financial services companies in terms of net worth.

With inputs from agencies