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Reliance Capital Ltd. The Group's principal activity is to provide corporate advisory services like project finance, management of issues for raising capital and managing exposure to currencies and interest rates. It is also involved in custodian and depository activities, asset management and real estate development. The focus of the Group is on the infrastructure projects, which provide growth opportunities and substantial tax benefits.
The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of over Rs 99,000 crore (US$ 22.6 billion), cash profit of Rs 12,500 crore (US$ 2.8 billion), net profit of Rs 6,200 crore (US$ 1.4 billion) and exports of Rs 15,900 crore (US$ 3.6 billion). The Group's activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocom initiatives. The Group exports its products to more than 100 countries the world over. Reliance emerged as India's Most Admired Business House, for the fourth successive year in a TNS Mode survey for 2004.
Reliance Capital Ltd. (RCL), one of India's leading private sector non-banking financial services companies (NBFCs), has reported satisfactory financial and operating performance during the period under review i.e. financial year 2001-02. Gross income for the year increased 11.46% to Rs.548.59 crores compared to Rs. 492.20 crores in the previous financial year. Net profit also increased from Rs.93.45 crores to Rs.101.22 crores for the year 2001-02. Depreciation was lower at Rs. 55.18 crores (previous year Rs.71.97 crores), and the tax provision decreased to Nil (previous year Rs.7.50 crores).
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