Srei Infrastructure Scores 121% Growth in Q1

Srei Infrastructure Scores 121% Growth in Q1
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Srei Infrastructure Finance on Saturday reported over 121% year-on-year jump in its consolidated net profit to Rs 51.57 crore for the quarter ended June 30 from Rs 23.32 crore for the year-ago period.

KOLKATA, 7 AUGUST,2016: The Kolkata-based NBFC’s total income from operations during the June quarter this fiscal grew 39% y-o-y at Rs 1,108.29 crore compared to Rs 797.10 crore for the corresponding period last fiscal, as per a BSE filing. Its consolidated disbursement rose to Rs 3,792 crore for the period under review from Rs 2,751 crore for the same period a year ago, posting nearly 38% growth y-o-y. Notably, Srei Equipment Finance (SEFL), which was a joint venture company, became a 100% subsidiary of Srei Infrastructure Finance with effect from June 17, 2016. During the month of April, the company sold its investment in Viom Networks Limited, resulting in a gain of R191.77 crore.

“We will continue to unlock value creation opportunities in our strategic investment portfolio, while bringing cost discipline, NPA recovery and operational excellence to our businesses,” said chairman and managing director Hemant Kanoria.