Religare enterprises consolidated net operating income grew 96% for Q4FY11

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Religare enterprises net operating income
Religare enterprises Ltd. announced its unaudited financial results for the fourth quarter ending March 31, 2011 on 15th May, 2011. It reported a consolidated net operating income of Rs. 1,033.05 crore during the quarter ending March 31, 2011, as compared to Rs. 527.63 crore for corresponding quarter of 2010, i.e. a growth of 95.79 per cent for the fourth quarter.

Considering the twelve month period from April -March 2011, net operating income was reported as Rs. 2,846.08 crore, i.e. a growth of about 71.23 per cent over the corresponding value of Rs. 1,662.11 crore for the year ago period.

But along with the growth in income, expenditure also grew tremendously. For the quarter ending March 2011 total expenses recorded an increase of 170.17 per cent to Rs. 1,029.65 crore over the corresponding value of Rs. 381.11 crore for the year ago period.

The increase in the total expenses was on the back of rise in the other expenses by 266.33 per cent to Rs. 652.29 crore from Rs. 178.06 crore in the corresponding last quarter. Considering the twelve month period from April -March 2011, total expenses recorded an increase of 100.56 per cent to Rs. 2,402.85 crore over the corresponding value of Rs. 1,198.06 crore for the year ago period.

The increase in the total expenses was on the back of rise in the other expenses by 122.07 per cent to Rs. 1,283.11 crore from Rs. 577.80 crore in the last financial year.

Due to huge rise in the expenditure, company recorded a net loss of Rs. 129.85 crore for the quarter ending March 2011 as compared to net profit of Rs. 32.16 crore reported during the corresponding period in 2010. Considering the twelve month period from April - March 2011 into account, the net loss stood at Rs. 301.94crore, as against the net profit of Rs. 96.92crore reported during the corresponding period.

Standalone

On the standalone front, considering the twelve month period from April - March 2011, the company recorded a net profit of Rs. 4.99 crore as compared to net profit of Rs. 55.52 crore reported during the corresponding period in 2010. This is equivalent to a decline of 91.01 per cent. This was due to increase in total expenses by 114.59 per cent to Rs. 101.03 crore, as compared to Rs.47.08 crore for corresponding period of 2010. While, the net operating income of the company during the year ending March 31, 2011 stood at Rs. 126.71 crore, as compared to Rs.135.07 crore for corresponding period of 2010, i.e. a decline of 6.19 per cent.

For the quarter ended March, 2011, company recorded a net profit of Rs. 21.61 crore as compared to net profit of Rs. 54.48 crore reported during the corresponding period in 2010. This is equivalent to a decline of 60.33 per cent. This was due to increase in total expenses by 31.06 per cent to Rs. 29.92 crore, as compared to Rs. 22.83 crore for corresponding period of 2010. While, the net operating income of the company during the quarter ending March 31, 2011 stood at Rs. 54.42 crore, as compared to Rs. 84.24 crore for corresponding period of 2010, i.e. a decline of 35.40 per cent for the fourth quarter.

The consolidated revenue generated for the quarter ended March, 2011 by various segments like Investment, Financing, Financial advisory services, Broking related activities, Depository operations, Insurance and AMC was Rs. 489.72 crore, Rs. 318.55 crore, Rs. 21.35 crore, Rs. 206.63 crore, Rs. 4.36 crore, Rs. 79.72 crore and Rs.38.41 crore respectively. All the segments except financial advisory services have shown a positive growth in the revenues as compared to the corresponding quarter of last financial year.

Read more about: religare enterprises, result, bse, nse
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