Srei announces Q3FY19 results

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Consolidated assets under management (“AUM”) stood at INR 49,913 crore as on December 31, 2018 as compared to INR 44,865 crore a year earlier.

Srei Infrastructure Finance Limited (“Srei”), one of India’s largest holistic infrastructure institutions, has reported a consolidated profit after tax (“PAT”) of INR 341.93 crore during the nine months of this financial year as compared to Rs 269.94 crore in the corresponding period of last year.

The company’s consolidated PAT was INR 91.41 crore for the quarter ended December 31, 2018 as against INR 118.75 crore in the corresponding quarter of previous year.

The standalone PAT was INR 81.87 crore for the nine months ended December 31, 2018 as compared to INR 79.05 crore in the corresponding period of previous year.

Total consolidated income for the quarter ended December 31, 2018 was at INR 1,611.54 crore as against INR 1,538.56 crore recorded during the quarter ended December 31, 2017. Total consolidated income for the nine months ended December 31, 2018 was INR 4,806.50 crore as compared to INR 4,034.72 crore in the corresponding period of previous year.

The consolidated disbursements during the quarter ended December 31, 2018 was INR 3,800 crore as compared to INR 5,731 crore in the corresponding quarter of last year. The consolidated disbursements for the nine months ended December 31, 2018 was at INR 15,563 crore as compared to INR 16,147 crore in the corresponding period of previous year.

Consolidated assets under management (“AUM”) stood at INR 49,913 crore as on December 31, 2018 as compared to INR 44,865 crore a year earlier.

Commenting on the results, Hemant Kanoria, Chairman and Managing Director, Srei, said: “During the third quarter of the financial year 2018-19, we have intentionally slowed down our disbursements in view of the environment and focussed on maintaining a comfortable liquidity position. Our ability to manage risks efficiently has led to healthy asset quality. Our liquidity position is comfortable with a focus on steady growth on our return on equity and profitability.”

“We have also embarked on a capital augmentation scheme and announced plans to get our equipment finance business listed on stock exchanges. This will allow the shareholders to participate directly in the high growth equipment finance sector and they will have monetizable assets in form of listed shares of both infrastructure financing and equipment financing businesses. The move will also help us in leveraging the growth opportunities in both the businesses leading to further increase in our shareholder value,” Mr. Kanoria added.www.newsbarons.com