<p>Debt-ridden Reliance Capital on Sunday reported coming back in black in the April-June quarter of 2023-24 with a consolidated net profit of Rs 444 crore for the period driven by the good performance of group companies.</p>.<p>The financial services firm under the debt resolution process had a net loss of Rs 491 crore in the corresponding quarter of 2022-23.</p>.<p>The company's total income during April-June 2023 stood at Rs 6,001 crore against Rs 3,604 crore in the year-ago quarter, Reliance Capital said in a regulatory filing.</p>.<p>Its total expenses rose to Rs 5,560 crore, from Rs 4,068 crore in the first quarter of the previous year.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/reliance-general-insurance-gets-rs-200-cr-capital-infusion-from-parent-1242339.html">Reliance General Insurance gets Rs 200 cr capital infusion from parent</a></strong></p>.<p>The company has a presence in finance and investment business, general and life insurance, commercial finance and others.</p>.<p>The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues.</p>.<p>The RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the firm.</p>.<p>Reliance Capital is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under IBC. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).</p>.<p>The central bank subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of NCLT.</p>.<p>In February last year, the RBI-appointed administrator invited expressions of interest for the sale of Reliance Capital.</p>
<p>Debt-ridden Reliance Capital on Sunday reported coming back in black in the April-June quarter of 2023-24 with a consolidated net profit of Rs 444 crore for the period driven by the good performance of group companies.</p>.<p>The financial services firm under the debt resolution process had a net loss of Rs 491 crore in the corresponding quarter of 2022-23.</p>.<p>The company's total income during April-June 2023 stood at Rs 6,001 crore against Rs 3,604 crore in the year-ago quarter, Reliance Capital said in a regulatory filing.</p>.<p>Its total expenses rose to Rs 5,560 crore, from Rs 4,068 crore in the first quarter of the previous year.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/reliance-general-insurance-gets-rs-200-cr-capital-infusion-from-parent-1242339.html">Reliance General Insurance gets Rs 200 cr capital infusion from parent</a></strong></p>.<p>The company has a presence in finance and investment business, general and life insurance, commercial finance and others.</p>.<p>The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues.</p>.<p>The RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the firm.</p>.<p>Reliance Capital is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under IBC. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).</p>.<p>The central bank subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of NCLT.</p>.<p>In February last year, the RBI-appointed administrator invited expressions of interest for the sale of Reliance Capital.</p>