Moneycontrol Bureau
Religare Enterprises' third quarter consolidated net profit climbed nearly three-fold sequentially to Rs 185.3 crore boosted by income from stake sale in a joint venture. However, profit growth was limited due to provision.
Consolidated revenue declined 1.3 percent to Rs 1,119 crore in quarter ended December 2015 compared to Rs 1,134 crore in preceding quarter.
Religare said it has reported one time gain of Rs 373.6 crore on sale of long term investments in a joint venture with Aegon India Holdings NV to Bennett, Coleman & Company, adding it made a provision of Rs 229.4 crore for dimunition in value of long term investments in a subsidiary Religare Capital Markets.
At 15:19 hours IST, the scrip of Religare Enterprises was quoting at Rs 302, up Rs 11.90, or 4.10 percent amid high volumes on the BSE.
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