Religare Enterprises Q1 net jumps over 5-fold at Rs 37 cr

Religare Enterprises on Friday reported nearly five-fold jump in net profit at Rs 37.94 crore during April-June quarter of 2015-16. It had posted a net profit of Rs 6.76 crore in the corresponding period of the previous fiscal. Total income in the first quarter of the current fiscal increased to Rs 73.55 crore, up 9.3 percent from a year ago's Rs 67.30 crore, it said in a filing to the BSE.

Meanwhile, at the meeting of its board of directors on Friday, the company announced to raise up to Rs 1,500 crore through equity shares or equity linked securities. Additionally, an amount not exceeding Rs 1,000 crore would also be raised by the company by way of issuing non-convertible debentures. Religare Enterprises Limited (REL) is a holding company of the group's diversified financial services.

Shares of the company closed 0.73 percent down at Rs 310.65 a share on BSE on Friday.