Srei consolidated Q2 Net Profit up by 29% INR 110.97 crore

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Consolidated assets under management (“AUM”) stood at Rs 50,893 crore as on September 30, 2018 compared to Rs 44,540 crore a year earlier

Srei Infrastructure Finance Limited (“Srei”) along with its wholly-owned subsidiary Srei Equipment Finance Limited has reported a consolidated profit after tax (“PAT”) of Rs 110.97 crore during the quarter ended September 30, 2018 as compared to Rs 86.03 crore during the corresponding quarter of last year.

The company’s consolidated PAT was at Rs 250.52 crore during the first six months of this financial year as compared to Rs 151.19 crore in the corresponding period of last year.

The standalone PAT was at Rs 59.31 crore for the half year ended September 30, 2018, as compared to Rs 48.12 crore in the corresponding period of last year.

Total consolidated income for the quarter ended September 30, 2018 was at Rs 1,666.14 crore as against Rs 1,324.03 crore recorded during the quarter ended September 30, 2017. Total consolidated income for the half year ended September 30, 2018 was at Rs 3,194.96 crore as compared to Rs 2,496.16 crore in the corresponding period of last year.

The consolidated disbursements during the quarter ended September 30, 2018 was Rs 5,822 crore as compared to Rs 6,010 crore recorded in the corresponding quarter of last year. The consolidated disbursements for the half year ended September 30, 2018 was at Rs 11,763 crore as compared to Rs 10,416 crore in the corresponding period of last year.

Consolidated assets under management (“AUM”) stood at Rs 50,893 crore as on September 30, 2018 compared to Rs 44,540 crore a year earlier.

Commenting on the results, Hemant Kanoria, Chairman and Managing Director, Srei, said: “Srei has maintained steady growth in business and profits, due to its fundamentally strong principles of conducting financial services business. In the last three decades Srei has seen through many ups and downs in the NBFC sector and also the financial sector in general. However, at Srei, we have been able to stick to our core business model and risk principles; therefore we have always been able to manage our liquidity in a well-structured manner over decades.”

Srei today announced the appointment of Rakesh Kumar Bhutoria as Chief Executive Officer (“CEO”). Mr. Bhutoria’s professional career spans over two decades in various leadership roles in the domain of financial services. Prior to joining Srei, he was Head of Commercial Banking and Strategic Initiatives and Member of the Steering Committee at IDFC Bank. He has also worked in senior leadership roles in Standard Chartered Bank, GE Capital and CRISIL.

Consolidated financials at a glance:Consolidated financials at a glance