The recently announced financial results of Reliance Securities, the broking and distribution arm of Reliance Capital shows a 51% growth in total income for Q1FY18.

The Anil Ambani led firm filed its first quarter results with the Bombay Stock Exchange (BSE), suggesting that it earned income of Rs. 82 crore ($13 million) during Q1FY18, a 51% growth over Q1FY17.

The profit before tax component too rose to Rs. 7 Crore ($1 million).

B Gopkumar, ED & CEO at Reliance Securities shared, "Our growth is driven by digital transformation we undertook over the last 18 months; with continued focus on cash market segment along with enhanced focus on distribution of investment products which has driven our profitability".

The group majorly dealing in equity broking also reported daily equities turnover growing to Rs 3492 crore ($607 million), a growth of 52%. The average daily turnover in cash- equity segment grew by 42% to 278 crore ($ 43 million).

Other services such as wealth management have also observed significant growth. The Asset under Management (AUM) category posted a 44% increase in revenue at Rs. 3989 crore ($614 billion).

The firm has managed to improve total broking accounts by 3% to nearly 8 lakh accounts. It operates nearly 80 branches and 1000 customer touch points. Stocks of Reliance Capital were trading 4.25 points or 0.62% up at 663.00 from the opening of Rs. 664 on BSE. The scrip's 52 week high and low were 693.10 on 10 May and 397.30 on 19 July respectively.