Srei reports consolidated PAT of Rs76.32 crore during Q1FY18 versus Rs51.57 crore during Q1FY17

Kolkata: Srei Infrastructure Finance Limited (“Srei”), one of India’s largest holistic infrastructure institutions, has reported a consolidated profit after tax (“PAT”) of Rs76.32 crore during the quarter ended June 30, 2017 as compared to Rs51.57 crore during the corresponding quarter of last year.

The standalone PAT was at Rs 28.59 crore during the first three months of this financial year as compared to Rs26.09 crore in the corresponding period of last year.

Srei Equipment Finance Limited PAT increased by 53% to Rs. 49.05 crore during the first quarter of this financial year from Rs. 32.03 crore in the corresponding period of last year.

Consolidated assets under management (“AUM”) stood at Rs 39,296 crore as on June 30, 2017 compared to Rs35,478 crore a year earlier. The consolidated disbursements during the quarter ended June 30, 2017 was Rs 4,406 crore as compared to Rs3,792 crore recorded in the corresponding quarter of last year.

Commenting on the results, Hemant Kanoria, Chairman and Managing Director, Srei, said: “We have begun the new financial year with renewed optimism. It has been yet another quarter of all-round growth across our businesses. The equipment finance business has witnessed good growth on the back of improved business confidence in sectors like road, irrigation and mining. Our asset quality continues to improve and reflects our deep relationships with customers, whom we have been supporting even during unfavourable macro-economic environment.

We believe that the road sector will be the primary growth engine for the infrastructure industry for a few more quarters. We will continue to leverage our leadership position, wide network and strong relationships to explore opportunities in the infrastructure space, which will be value accretive for all our stakeholders.”

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OdishaInc Bureau