Reliance Commercial Finance (RCFL), a subsidiary of Reliance Capital, announced its financial results for the quarter ended June 30, 2017. Profit after tax was Rs 650 million (USD 10 million) a YoY increase of 44%. Total Income was Rs 4.90 billion (USD 75 million).

Total disbursements were Rs 35.79 billion (USD 551 billion), driven by strong growth in the SME segment. As on June 30, 2017, outstanding loan book was Rs 138.39 billion (USD 2.1 billion) a YoY increase of 13%. The loan book is spread across 46,700 customers in top 40 Indian cities.

The Assets under Management (AUM) stood at Rs 174.50 billion (USD 2.7 billion) a YoY increase of 6%. Gross NPA ratio was at 4.1% (on 90 dpd basis).

''Through smart and intensive application of digital assets, we expect to rapidly scale in the coming quarters. We expect robust growth in the SME segment, where we have created best-in-class underwriting and distribution capabilities. Also, we have begun our journey in retail lending, an area of significant untapped potential,'' said Devang Mody, ED & CEO, Reliance Commercial Finance.

Shares of the Reliance Capital gained Rs 0.95, or 0.14%, to trade at Rs 671.50. The total volume of shares traded was 78,736 at the BSE (11.07 a.m., Tuesday).