Internet loss at Rs 239 crore. 10% improve in income

Business Standard

Reliance Capital’s consolidated web loss within the quarter ended September 30 was Rs 239.32 crore. Nonetheless, in Q2 FY23, the consolidated web revenue stood at Rs 215.23 crore. In Q1 FY24, web revenue stood at Rs 434.46 crore.

The corporate’s income from operations rose 10.29 per cent to Rs 6,392.6 crore in the course of the quarter below evaluation as in opposition to Rs 5,795.8 crore final 12 months. Within the earlier quarter, it reported income from operations of Rs 5,957.1 crore. This represents a rise of seven.31 %.

Whole revenue for Q2 FY24 stood at Rs 6,418.8 crore, in comparison with Rs 6,046.6 crore year-on-year, registering an increase of 6.15 per cent. On a quarterly foundation, complete revenue elevated by 6.96 %. It was Rs 6,000.8 crore in Q1FY24.

Final month, it was reported that the Hinduja Group was in search of various technique of financing, together with non-public credit score, to fund its Rs 9,661-crore all-cash bid for Reliance Capital. The Insurance coverage Regulatory and Improvement Authority of India (Irdai) rejected the ensures given by the group to boost funds.

At 1:07 pm, Reliance Capital shares had been buying and selling at Rs 11.70.

First printed: 08 November 2023 | 1:13 pm he

(tags for translation) Reliance Capital

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