Reliance Capital (RCap), the financial services wing of Reliance-Anil Dhirubhai Ambani Group (R-Adag) has shown a 57 per cent decline in its net profit. This is for the full fiscal year of 2010.

Company sited the rising costs and falling earnings as the reason behind the decline. It said that the earnings from its investments have fallen drastically and there has been no respite from the cost front as well.

The cost figures touched an all-time high with an increase of 20 per cent to touch Rs. 4,219.88 crore and against Rs. 3,515.33 crore last year.

The net profit of RCap was Rs. 435 crore. It is less than Rs. 1, 015.7 crore, that RCap reported last year. The firm's revenue increased by 3 per cent to Rs. 6,141 crore, that is higher than Rs. 5, 939.58 crore for the last year.

If the non-core activities, it saw an eight-fold increase in revenue. The revenue figure touched Rs. 215.54 crore as against Rs. 27.41 crore during the same period last year.

Reliance Capital is into the business of insurance, mutual funds, brokerage, consumer finance and private equity.