Business EconomyPosted at: May 24 2024 6:11PM

New Delhi, May 24 (UNI) Religare Enterprises Limited (REL), a diversified financial services Group, on Friday announced 28 percent growth in consolidated revenue at Rs 1,874 crore in January-March or Q4 of financial year 2023-24 compared to Rs 1,460 crore in same quarter of last financial year.
The Consolidated revenue is Rs 6,299 crore for FY24, up by 30 percent as compared to the previous year. The Company reported a Profit Before Tax of Rs 217 crore (before exceptional items) as compared to a loss of Rs 31 crore in FY23.
Commenting on the financial performance, Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises Limited said, “We are pleased to announce another year of strong financial performance, further consolidating the leadership position of the company after a significant turnaround last year. Despite certain challenges, REL has stayed on course to grow steadily.
“All four businesses have reported another profitable year. During the fiscal, Care Health Insurance and Religare Broking Limited have reported their best performance to date. We remain optimistic about the future of all the businesses and are confident in our ability to continue delivering value to all our stakeholders,” Dr Saluja said.
Care Health Insurance posted an all-time high premium collection of Rs 7,022 crore, in FY24, while Securities Broking business registered a bumper year of growth with income amounting to Rs 368 crore for FY24, a jump of 29 percent as compared to the previous year. While the Housing Finance business reported another profitable year with SME lending arm, Religare Finvest Limited (RFL) has become debt free and is ready to start the operations, she said.
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