Srei Q1 PAT up 35 per cent

Tags: Companies
Srei Infrastructure Finance Limited, Kolkata-headquartered infrastructure finance company, on Saturday registered a 35 per cent growth in its consolidated profit after tax riding on better cost management. The consolidated PAT during the quarter ended June 30, 2014 stood at Rs.63.98 crore, up from Rs 47.22 crore earned at the corresponding quarter last fiscal.

The consolidated operating profit of the company for the quarter stood at Rs 265.03 crore as compared to Rs 137.24 crore in the first quarter of the last fiscal and the consolidated total income was recorded at Rs 942.64 crore as compared to Rs 786.67 crore during the same quarter last fiscal, registering a growth of 20 per cent.

Hemant Kanoria, chairman and managing director, Srei Infrastructure Finance Limited, said, “There has been an improvement in the profits in Q1 due to better cost management. The environment in the country is improving with the new government at the Centre and the budget also announced many schemes for accelerating infrastructure growth. From the third quarter onwards of this financial year, we expect investments to restart in the sector which will help augment our business and profits.”

The consolidated disbursement by the company stood at Rs 3,217 crore during the same quarter while the consolidated asset under management (AUM) stood at Rs 34,713 crore for the quarter, compared to Rs. 34,483 crore at the end of Q1 last fiscal, according an official communiqué from the company.

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