The Indian finance company, Reliance capital shares ended up in a flat graph on the national stock exchange in Friday’s closing session after they reported depreciation in its consolidated net loss at Rs 1,759 crore in the quarter ended December 2021 against Rs 3,966 crore in the same quarter a year ago. But the net loss widened from Rs 1,156 crore in the prior quarter ended September 2021.
According to the regulatory filing, the total income of the company was at Rs 4,083 crore in Q3 FY22, down from Rs 4,890 crore in Q3 FY21. The company’s expenditures went higher than the earnings, corresponding at Rs 5,658 crore in the December 2021 quarter against Rs 8,662 crore in December 2020 quarter, and Rs 6,981 crore in September 2021 quarter.
As per the estimates, small shareholders will end up missing signs of financial stress with the hope of a bounce-back. Earlier, the Reserve Bank of India expelled Reliance Capital’s board and commenced bankruptcy proceedings, a move that departs equity shareholders in the lurch. Then, 750,276 retail shareholders together owned 26.99% shares and 185 individuals owning shares more than Rs 2 lakh held 4.2% shares as of 30 September 2019.
As many as 762,443 retail shareholders together held 57.53% shares in Reliance Capital at Q2-end. Attributing it partially to the adequate tidings obtained to the company by his son Anmol Ambani who had joined the company board a few months before, he noted that its shares had risen 40% since.