Reliance Finance publish financial statement for third quarter; Earned a profit of 8 crore rupees

Reliance Finance Limited has released its financial statements for the third quarter of the current fiscal year on Friday.

According to the financial statement, the company has made a net profit of Rs. 8 crore 63 lakh 34 thousand.

Last year, the company had a net profit of Rs. 6 crore 32 lakh 41 thousand. Compared to last year, the company’s net profit has increased by 37.31 percent in this year.The company’s operating profit has also increased at the same rate this year.

Last year, the operating profit was Rs. 9 crore 3 lakh 44 thousand in the third quarter. This year, the company’s operating profit stood at Rs. 12 crore 40 lakh 49 thousand. The company’s distributable profit for the third quarter stood at Rs. 10 crore 79 lakh 30 thousand. The company’s distributable profit till this period in last year was Rs. 96 lakh 52 thousand. The company’s distributable profit has increased 10 times this year compared to last year.

Compared to last year, the company’s paid-up capital has remained stable at Rs. 83 crore 24 lakh 16 thousand this year. The reserve fund increased by 94.11 percent and reached Rs. 24 crore 46 lakh 82 thousand.

The company’s deposit collection has increased by 18.45 percent this year while credit flow has increased by 16.39 percent.

The company’s non-performing loan ratio, which was 2.63 percent last year, has dropped to 1.88 percent this year. By the third quarter, the company’s earnings per share stood at Rs. 13.91 and a net worth per share at Rs. 155.32.

Despite the increase in credit investment, non-performing loans of finance have declined. Compared to the Chaitra of the last fiscal year, the non-performing loan of finance has decreased by 0.75 percentage points and reached to 1.88 percent in the corresponding period of the current fiscal year.