In the fourth quarter of FY 2021, Anil Ambani’s two companies Reliance Capital and Reliance Home Finance incurred losses.
Corona era Reliance Anil Dhirubhai Ambani group chief Anil Ambani (Anil Ambani) has increased difficulties. In the fourth quarter of FY 2021, two companies of Anil Ambani have incurred losses. Reliance Capital, promoted by Anil Ambani, reduced its net loss to Rs 1,646 crore for the quarter ended March 2021. At the same time, Reliance Home Finance incurred a loss of 445 crores in the March quarter of the previous year.
Reliance Capital had reported a net loss of Rs 2,179 crore in the same period of the previous financial year. Reliance Capital told the stock market that its total consolidated income increased to Rs 5,163 crore in the quarter under review, from Rs 3,780 crore in the year-ago quarter. During this period, the total expenditure of the company increased from Rs 5,846 crore to Rs 6,564 crore.
Reliance Home Finance also reported losses
Reliance Home Finance reported a decrease of Rs 444.62 crore for the quarter ended March 2021. The company also had a consolidated net loss of Rs 238.37 crore for the quarter ended March 2020. Anil Ambani’s Reliance Capital’s subsidiary was also netted a net loss of Rs 339.55 crore in the December quarter last year.
This company, which undertakes home loans, is currently undergoing a debt resolution process.
Company’s earnings also decreased in the March quarter
The company’s total income declined 42.4 percent to Rs 162.08 crore in the March quarter of this year. It showed an income of Rs 281.34 crore in the same period a year ago. In FY 2020-21, the consolidated net loss of the company increased manifold to Rs 1,519.90 crore as against Rs 375.32 crore in 2019-20.
The total income of the company in the year 2020-21 was Rs 840.43 crore, as compared to Rs 1602.91 crore in the last financial year.
Ambani’s company made profit from loss of Rs 4,206 crore
Reliance Power has earned a profit of 72 crores. Reliance Power, formerly known as Reliance Energy. This company has shown profits during the Corona period. Reliance Power made a consolidated net profit of Rs 72.56 crore for the quarter ended March 2021. The company earned a consolidated net loss of Rs 4,206.38 crore for the quarter ended March 2020. It is a big relief for Anil Ambani and Reliance Infra CEO K Raja that the company is showing a profit of 72 crores coming out of a loss of 4,206 crores.
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