Religare Enterprises Q4 net profit at Rs 31.7 cr

MUMBAI: Financial services firm Religare Enterprises today reported a consolidated net profit of Rs 31.7 crore for the fourth quarter ended March 31, 2010.

The company had a consolidated net loss of Rs 63.2 crore in the same quarter ended March 2008-09, Religare Enterprises said in a filing to the Bombay Stock Exchange.

Total income increased to Rs 528.2 crore for the quarter ended March 31, from Rs 245.8 crore in the same quarter previous fiscal.

"Our results for FY10 are a reflection of the fine balance we have struck between current performance and investments in emerging lines of business. We expect that as some of our new businesses mature, we will continue to see superior growth while maintaining the flexibility to make further investments," Religare Enterprises Limited Group CEO Shachindra Nath said.

For the year ended March 31, 2010, the company has posted a consolidated net profit of Rs 96.5 crore, while it had a net loss of Rs 63.5 crore in the same year-ago period.

Retail continues to expand its distribution reach across India; covers 2,092 business locations in 557 cities at the end of FY2010.

Shares of Religare Enterprises were trading at Rs 432.50 on BSE, up 0.87 per cent from previous close.