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Reliance Securities’ Q3 total income up 2% (Lead)

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Mumbai, Jan 12 (IANS) Broking major Reliance Securities on Friday reported a marginal year-on-year rise of 2 per cent in its total income for the quarter ended December 31, 2017.

According to the broking and distribution arm of Reliance Capital, its total income for the quarter under review increased to Rs 83 crore ($13 million).

The company further reported that its profit before tax in Q3 rose to Rs 14 crore ($2 million) as against Rs 13 crore in Q2 FY18.

“I am very happy to report that we continue to progress on the path of profitable growth, with consistent increase in the number of trading clients, coupled with a rise in volume in the cash market segment and distribution of investment products,” B. Gopkumar, ED and CEO, Reliance Securities, was quoted as saying in a statement.

“Our evolution is backed by significant digital transformation initiatives across segments.”

The company pointed out that its equity broking segment’s average daily stock turnover grew by 64 per cent on year in the quarter ended December to Rs 4,524 crore ($ 707 million).

“The average daily turnover in cash – equity segment rose by 61 per cent to Rs 335 crore ($ 52 million),” the statement said.

As on December 31, 2017, there were approximately 8.5 lakh broking accounts 7 per cent higher than the corresponding period last year.

“As on December 31, 2017, the commodity broking accounts rose by 38 per cent to over 98,000, with average daily commodities turnover increased by 5 per cent to Rs 270 crore ($ 42 million),” the statement added.

“Wealth management continued its robust growth and ended with assets under management (AUM) of Rs 5,431 crore ($ 849 million) – a YoY increase of 51 per cent.”

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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