Reliance Capital Limited
NSE Symbol RELCAPITAL
RELIANCE CAPITAL has released its FY 11 consolidated results which do not reveal a heartening picture.
Net Sales is Rs.5330.77 Cr in FY 11 – down by 9.58% from FY 10 and down by 10.39% from FY 09.
Total Expenditure for FY 11 is Rs.3745.22 – down by 11.25% from FY 10 but up by 5.46% from FY 09.
Profit from Operations for FY 11 is Rs.1641.61 Cr – down by 13.18% from FY 10 and down by 32.29% from FY 09.
Profit before tax for FY 11 is Rs.291.21 Cr – down by a huge 50.50% from FY 10; and down by 75.82% from FY 09.
Net Profit for FY 11 is Rs. 232.66 Cr – down by 47.33% from FY 10; and also down by 77.26% from FY 09.
Consolidated Net Profit for FY 11 is Rs.291.18 Cr – down by 32.99% from FY 10; and down by 71.33% from FY 09.
Basic EPS for FY 11 is Rs.11.85 – against Rs.17.63 in FY 10; and Rs.41.35 in FY 09.
Thus, performance in FY 11 on a consolidated Basis – presents a big downtrend. It was similar in FY 10 too, compared to FY 09, as can be seen from the sliding EPS.
Reliance Capital has given some reasons for much lower Net profit ; like - One time provisioning of over Rs. 1.8 billion (US$ 40 million) made on account of change in provisioning norms for commercial motor third party pool loss in general insurance, as intimated by regulator.
It also says that – this is a Industry wide phenomenon – losses aggregating to approx. Rs. 70 billion (US$ 1.5 billion) for entire industry , which is - shared by all industry players in proportion to their market share.
ANNOUNCEMENTS TO NSE
30-05-2011 Reliance Capital standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 180881 lacs for year ending on 31-MAR-2011 against Rs. 216873 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 22927 lacs for the year ending on 31-MAR-2011 against Rs. 33942 lacs for the year ending on 31-MAR-2010.
30-05-2011 Reliance Capital have recommended a dividend of Rs. 6.50 per equity share of Rs. 10/- each.
30-05-2011 Reliance Capital Limited consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 533077 lacs for year ending on 31-MAR-2011 against Rs. 589524 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 29118 lacs for the year ending on 31-MAR-2011 against Rs. 43454 lacs for the year ending on 31-MAR-2010.
14-03-2011 media release dated March 14, 2011, titled "Nippon Life Insurance to acquire 26 Per Cent Stake in Reliance Life Insurance".
29-01-2011 Reliance Commercial Finance Private Limited ('RCFPL') a wholly owned subsidiary of Reliance Capital Limited (RCL) has filed a petition in the High Court of Judicature at Bombay for merging itself with RCL. The entire issued, subscribed and paid-up share capital of RCFPL is held by RCL. Accordingly, there will be no change in the share capital of RCL pursuant to the Scheme. The Scheme is subject to the approval of the High Court of Judicature at Bombay.
03-01-2011 :media release dated January 03, 2011, titled "Reliance Capital enters commodity futures exchange business".
CONSOLIDATED RESULTS TABLES
| FY11CS | |||
| Net Sales | 533,077.00 | 589,524.00 | 594,868.00 |
| Other Operating Income | 5,606.00 | 21,554.00 | 2,741.00 |
| Purchase of traded goods | - | 31,314.00 | - |
| Employees Cost | 49,682.00 | 53,535.00 | 55,407.00 |
| Depreciation | 4,997.00 | 6,762.00 | 5,671.00 |
| Other Expenditure | 319,843.00 | 330,377.00 | 294,066.00 |
| Total Expenditure | 374,522.00 | 421,988.00 | 355,144.00 |
| Profit from Operations | 164,161.00 | 189,090.00 | 242,465.00 |
| Other Income | 11,164.00 | 2,982.00 | 4,334.00 |
| Profit before Intt & EI | 175,325.00 | 192,072.00 | 246,799.00 |
| Interest | 146,204.00 | 133,240.00 | 126,384.00 |
| Profit after Intt BB EI | 29,121.00 | 58,832.00 | 120,415.00 |
| Profit before tax | 29,121.00 | 58,832.00 | 120,415.00 |
| Tax Expense | 5,792.00 | 14,659.00 | 18,109.00 |
| Net Profit after tax | 23,329.00 | 44,173.00 | 102,306.00 |
| Extraordinary Items | 63 | - | - |
| Net Profit | 23,266.00 | 44,173.00 | 102,306.00 |
| Minority Interest | 479 | 1,035.00 | 784 |
| Shares of Associates | -6,331.00 | -316 | -45 |
| Consolidated Net Profit | 29,118.00 | 43,454.00 | 101,567.00 |
| Face Value (in Rs.) | 10 | 10 | 10 |
| Paid-up Equity | 24,616.00 | 24,616.00 | 24,616.00 |
| Basic EPS | 11.85 | 17.63 | 41.35 |
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