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Rel Caps' net leapfrogs to Rs 538 cr in FY-06

Written by: Staff
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Mumbai, Apr 24 (UNI) Galloping a 709 per cent fourth quarter (Q4) leap in net profit in FY-06 over the comparable period the previous fiscal, Reliance Capital has closed its last financial year with a whopping 508 per cent jump over FY-05.

The Anil Ambani group company recorded a huge net profit of Rs 286 crore in the last quarter of FY-06 ended March 31 as against Rs 35 crore a year ago, an increase of 709 per cent, a company release today said adding that with this it secured a net profit of Rs 538 crore for FY-06 as against Rs 106 crore in the previous fiscal (a jump of 508 per cent).

The company also declared a 32 per cent dividend for financial year 2005-06.

Its total income during the year also rose 121 per cent to Rs 652 crore, as against Rs 295 crore in the previous fiscal, it added.

The company said its cash profit for the year ended March 31, 2006 stood at Rs 561 crore as against Rs 134 crore in the year-ago period, up by 319 per cent.

During the quarter, the total income stood at Rs 322 crore as against Rs 84 crore in the corresponding period of previous fiscal, up 284 per cent.

The cash profit for the quarter was at Rs 290 crore, as compared to Rs 42 crore a year ago, up by 590 per cent, it added.

The company's board has recommended a dividend of 32 per cent that is, Rs 3.20 on equity share of Rs 10 each for the year ended March 31, 2006.

NTPC former Chairman C P Jain has been appointed as an additional director on the Reliance Capital's board.

Meanwhile, with the announcement of the results, the company's scrip was trading at Rs 554.45, up 3.09 per cent, on BSE.

The entity which is virtually debt free with a debt-equity ratio at 0.06 as on March 31, 2006, had issued preferential offer of equity shares worth Rs 2,673 crore to Anil Dhirubhai Ambani Enterprises and long-term institutional investors to strengthen its financial position and generate resources for accelerating its future growth plans.

The net worth of the company stood at Rs 4,123 crore as on March 31, 2006.

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