Reliance Capital shares gain 3% post strong Q2 numbers

NEW DELHI: Reliance Capital Ltd surged over 3 per cent in early trade on Wednesday after the company posted a consolidated net profit of Rs 401 crore for the three-month period ended September 30, 2012.

The entity had net profit of Rs 33 crore in July-September quarter of 2011, R-Cap said in a statement.

At 09:50 am, Reliance Capital was trading 3.2 per cent higher at Rs 406.85. It has hit a low of Rs 400.25 and a high of Rs 408.45 in trade today.

The company said that financial results for the current quarter are not comparable with previous corresponding quarter as Viscount Management Services (Alpha) Ltd, amalgamated with the company with effect from October 2011.

"R-Cap attributed the impressive quarterly earnings to increase in topline of commercial finance business and gains accrued from the stake sale in Reliance Capital Asset Management," PTI reported.