Srei Infrastructure Finance consolidated net profit up nearly four-fold

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New Delhi | Published: February 4, 2017 3:28:39 AM

Srei Infrastructure Finance on Friday said its consolidated net profit grew by nearly four fold to Rs 67.21 crore for the third quarter ended December on account of higher income.

CMD Hemant KanoriaCMD Hemant Kanoria

Srei Infrastructure Finance on Friday said its consolidated net profit grew by nearly four fold to Rs 67.21 crore for the third quarter ended December on account of higher income. The company had posted a net profit of Rs 17.16 crore during the same quarter of the previous financial year. “Total income from operations during the quarter under review was Rs 1,128.96 crore, up 43.44% as against Rs 787.02 crore in the corresponding quarter of the previous year,” Srei said in a BSE filing.

Consolidated assets under management stood at Rs 37,505 crore as on December 31, 2016, against Rs 36,949 crore. “Our consistent quarterly improvement in profitability has been due to several reasons – reduction in non-performing assets, increase in disbursement, focus on margins and divestment of some of our strategic investments,” said CMD Hemant Kanoria.

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