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Reliance Capital growth Slows Down

April 24, 2007

Compared to what leading Indian Financial Institutions like UTI Bank have reported their results, Reliance Capital is growing at a slower pace. Reliance Capital reported a profit growth of RS 311 crore an increase of mere 9% compared to the same quarter a year ago which was at 285.59.

On a consolidated basis, Reliance Capital’s net profit rose 23% to Rs 703 crore and total income more-than-doubled to Rs 2158 crore during the fiscal, a 128% increase from Rs 947 crore of the previous year.

Reliance Asset Management recorded a net profit of Rs 49 crore, a 63% increase during the year. The number of investors in Reliance Mutual Fund (RMF) increased to 32.27 lakh from 20.95 lakh a year ago.

Reliance Life Insurance had a premium income of Rs 1005 crore from Rs 224 crore in the previous year, representing a jump of 348% .

Reliance General Insurance had a premium income of Rs 912 crore from Rs 163 crore in the previous year, representing an increase of 462%.

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