Its complete consolidated earnings declined to Rs 4,436 crore within the quarter from Rs 4,770 crore within the year-ago interval, Reliance Capital stated in a regulatory submitting.
The overall bills decreased to Rs 5,949 crore in opposition to Rs 8,982 crore within the corresponding quarter of the previous fiscal.
On a standalone foundation, the corporate posted a web lack of Rs 1,389 crore in comparison with Rs 25 crore a yr in the past.
The overall earnings declined to Rs 3 crore within the March 2023 quarter from Rs 5 crore within the year-ago interval.
The corporate is beneath the insolvency course of since November 29, 2021, when the Reserve Financial institution of India (RBI) outdated the board of Reliance Capital in view of cost defaults and critical governance points.
The RBI appointed Nageswara Rao Y because the administrator in relation to the Company Insolvency Decision Course of (CIRP) of the agency. Reliance Capital is the third massive non-banking monetary firm (NBFC) in opposition to which the central financial institution has initiated chapter proceedings beneath the IBC. The opposite two have been Srei Group NBFC and Dewan Housing Finance Company (DHFL).
The central financial institution subsequently filed an software for initiation of CIRP in opposition to the corporate on the Mumbai bench of NCLT.
In February final yr, the RBI-appointed administrator invited expressions of curiosity for the sale of Reliance Capital.
