Religare Enterprises Q2 consolidated net down 56% sequentially at ₹40.35 crore

Religare Enterprises Limited (REL) has reported a 56 per cent sequential decline in consolidated net profits for the second quarter ended September 30,2023 at ₹40.35 crore as compared to net profit of ₹92.52 crore recorded in the first quarter ended June 30, 2023. 

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In the September quarter last fiscal, REL had recorded a consolidated net loss of ₹176.72 crore. For the quarter ended September 30, 2023, the total consolidated revenues grew 34 percent at ₹1585.58 crore (₹1183.34 crore). In the September 2022 quarter, REL had recorded total revenues of ₹1302.46 crore. 

Meanwhile, the Board of Directors of REL have approved the elevation of Rakesh Asthaana, Group-Head—Corporate Affairs & Business Advisor as Whole Time Director on the Board of the company. 

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Asthaana is an Indian Police Service (IPS) officer from the 1984 batch of Gujarat cadre. Asthaana superannuated as Police Commissioner of Delhi on July 31, 2022. Prior to this, he had served the nation as Chief of Border Security Force (BSF), Director General of the Bureau of Civil Aviation Security and Director General of Narcotics Control Bureau.