The company has registered a net profit of Rs 106.45 crore against Rs 101.51 crore in the previous year. The board of directors have recommended a dividend of 28 per cent.

The earnings per share (EPS) stands at Rs 8.59 against Rs 8.19 in 1996-97.Reliance Capital's total income during the year has increased to Rs 301.33 crore from Rs 222.86 crore during 1996-97, marking an increase of 35 per cent. The company managed to scale down its expenditure during 1997-98 to Rs 16.40 crore against Rs 26.94 crore in the previous year.

Interest and finance charges, however, ballooned to Rs 87.31 crore against Rs 31.37 crore in 1996-97. Gross profit during the year grew by 20 per cent to Rs 197.62 crore against Rs 164.55 crore in the previous year.

Depreciation charges in 1997-98 mounted to Rs 79.81 crore against Rs 45.98 crore during the previous year.

Reliance Capital has created a lowerprovision for taxation at Rs 11.36 crore against Rs 17.06 crore in 1996-97. The company has transfered a sum of Rs 63.21 crore to its general reserve, taking it up to Rs 989.11 crore.