Religare Enterprises Q1 loss narrows to Rs 6 crore

Total expenses of Religare Enterprises remained almost flat at Rs 20.48 crore at the end of the first quarter.

Financial services firm Religare Enterprises on Tuesday reported a narrowing of standalone net loss to Rs 6 crore for the June quarter. The company posted a loss of Rs 14 crore in the year-ago period.

Total revenues increased to Rs 8 crore during the quarter under review as against Rs 7 crore a year ago, the company said in a regulatory filing on Wednesday. At the same time, the total expenses remained almost flat at Rs 20.48 crore at the end of the first quarter.

On a consolidated basis, Religare Enterprises recorded a net profit of Rs 93 crore, as against a loss of Rs 76 crore in the same quarter a year ago. The total income increased to Rs 1,302 crore in the quarter under review as compared to Rs 1,051 crore in the first quarter of the previous fiscal.