Srei Infrastructure Finance profit zooms 259% to Rs 13.47 cr

By: | Published: May 2, 2015 12:16 AM

Srei Infrastructure Finance announced a whopping 259% year-on-year rise in consolidated net profit to Rs 13.47 crore.

Srei Infrastructure Finance on Friday announced a whopping 259% year-on-year rise in consolidated net profit to Rs 13.47 crore for the quarter ended March, 2015 from Rs 3.75 crore in the same period a year ago.

Total income from operations for the March quarter, however, declined 10.4% y-o-y to Rs 753.86 crore compared to Rs 841.57 crore in the corresponding period previous fiscal.

The infrastructure finance company reported a consolidated net profit of Rs 129.11 crore during the year ended March, 2015 compared to Rs 138.51 crore recorded during the previous year, according to a release. Total consolidated income for last financial year was Rs 3,360.32 crore against Rs. 3,260.30 crore during the financial year 2013-14.

Commenting on the results, Hemant Kanoria, chairman and managing director, Srei Infrastructure Finance, said, “We have been carefully managing our portfolio quality and lending cautiously.”

JV’s NCD issue subscribed 1.65 times

Srei Equipment Finance on Friday announced that its Rs 250-crore public issue of secured, redeemable, non-convertible debentures (NCDs) had been subscribed 1.65-times and received bids of Rs 412.87 crore as per stock exchange bidding data.

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