Exclusive: Religare Enterprises Top Management; Q4 & FY24 Results Review: Future Growth Plan

Religare Enterprises Limited (REL), a diversified financial services entity, had announced the financial results for the quarter and the year ending 31 March 2024 after the meeting of its Board of Directors on 21 May 2024. For the quarter, consolidated revenue grew by 28% to Rs 1,874 crore in Q4 FY24 as compared to Rs 1,460 crore in corresponding quarter of the previous year. The consolidated revenue is Rs 6,299 crore for FY24, up by 30% 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 Ltd 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. Care Health Insurance posted an all-time high premium collection of Rs 7,022 crore, in FY24. Our Securities Broking business registered a bumper year of growth with income amounting to Rs 368 crore for FY24, a jump of 29% as compared to the previous year. While the Housing Finance business reported another profitable year our SME lending arm, Religare Finvest Limited (RFL) has become debt free and is ready to start the operations,” she said.Watch BTTV Managing Editor Siddharth Zarabi in conversation with Rashmi Saluja, Executive Chairperson, Religare Enterprises Limited (REL).