Reliance Commercial Finance Ltd (RCFL) has posted 44 per cent jump in net profit at Rs 65 crore for the quarter ended June 30, 2017.
Total income of the Reliance Capital’s subsidiary for the April-June period of the current fiscal was marginally up at Rs 490 crore against Rs 485 crore in the year-ago quarter.
“Through smart and intensive application of digital assets, we expect to rapidly scale in the coming quarters. We expect robust growth in the SME segment, where we have created best-in-class underwriting and distribution capabilities,” Reliance Commercial ED & CEO Devang Mody said in a statement.
Total disbursements of the company stood at Rs 3,579 crore as at the end of June 2017 driven by strong growth in SME segment. As of June 30, 2017, the outstanding loan book of the financier was Rs 13,839 crore, up 13 per cent.
Reliance Capital stock was trading 0.06 per cent up at Rs 670.95 on the BSE.