Reliance Finance reports 248% rise in net profit; NPL down to 3.06%

Reliance Finance Limited (RLFL) has registered a net profit rise of 247.94% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the finance today, its net profit has increased to Rs. 2.02 crore in second quarter, up from Rs 58.17 lakh in the corresponding quarter of the previous fiscal year. RLFL’s net interest income has risen to Rs 6.65 crore in Q2 as compared to Rs 3.88 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 44.57 crore with a reserve of Rs 15.07 crore. The bank also collected deposits of Rs 2.78 arba in Q2, up from Rs 2.01 arba crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs 2.40 arba crore in Q2 whereas in the same period last year, the figure stood at Rs 1.69 arba. The credit-deposit ratio (CDD) of this finance company stands at 71.28%. RLFL’s annualized Earnings per Share (EPS) has increased to Rs 4.54, net worth per share at Rs 133.48 and P/E ratio at 46.68 times. Its 7^th AGM had endorsed 15% bonus and 60% right, after which its paid up capital will reach Rs 82 crore.