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Reliance Capital Q2: In the second quarter of the current financial year ended September, Reliance Capital posted Rs. 239 crore net loss. The company gave this information on Wednesday. The company in the same quarter of last financial year had Rs. 215 crore net profit was made. Shares of Reliance Capital rose 5% today to Rs. It was 11.70.
What are the details?
In a stock market disclosure, Reliance Capital said its total revenue for the quarter under review rose to Rs. 6,393 crore as compared to Rs. 5,796 crores. In the quarter under review, the company’s total expenses rose to Rs. 6,679 crore as compared to Rs. 5,756 crores.
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On a standalone basis, the company’s loss for the September 2022 quarter was Rs. 26 crores to Rs. 442 crore has been done. The company is facing bankruptcy proceedings from November 29, 2021. At that time the Reserve Bank of India (RBI) dissolved the company’s board of directors over payment defaults and serious administrative issues.
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The Reserve Bank appointed Nageswar Rao Y as the administrator under the company’s corporate insolvency resolution process. Reliance Capital is the third largest non-banking financial company (NBFC) against which the central bank has initiated insolvency proceedings.