Moneycontrol
Last Updated : Feb 13, 2017 11:18 AM IST | Source: CNBC-TV18

Aim to cut debt to Rs 5k cr with stake sales in FY18: RelCap

Speaking to CNBC-TV18, Sam Ghosh, ED and group CEO at Reliance Capital said that the company will reduce its debt through stake sales and intends to bring down to Rs 5,000 crore in FY18.


Reliance Capital reported a mixed set of third quarter earnings where its net profit fell 11 percent to Rs 209 crore year-on-year (YoY) and revenue increased 68 percent to Rs 3,964 crore (YoY).


Read more: Reliance Capital Q3 profit drops 11% to Rs 209 crore


Speaking to CNBC-TV18, Sam Ghosh, ED and group CEO at Reliance Capital said that the company will reduce its debt through stake sales and intends to bring down to Rs 5,000 crore in FY18.


He said that the company may opt for divestment in non-core business to cut its debt and in FY17 will sell stake only in Reliance Broadcast Network Limited.

Ghosh further expects both the housing and commercial finance to aid in growth going ahead.

Watch video for more.

First Published on Feb 13, 2017 11:10 am
Loading...
Sections
Follow us on
Available On