Srei Total Income Grows By 5 pc To 3260 Cr

Tags: Companies
Srei Infrastructure Finance Limited is bullish about the infrastructure sector with the new government being set to step in. The Kolkata-headquartered infrastructure finance company may also look at divesting some of its investments in the near future with the outlook becoming better, top company officials said on Friday.

The company, meanwhile, on Friday, registered a 5 per cent growth in its consolidated total income at Rs 3,260.30 crore during the year ended March 31, 2014, as compared to Rs 3,109.92 crore during the corresponding period last year.

Srei’s consolidated assets under management (AUM) stood at Rs 34,070 crore as on March 31, 2014 as compared to Rs 33,330 crore in the previous year. The consolidated disbursement during the year ended, 2014 was recorded at Rs12,706 crore as compared to Rs15,667 crore in the corresponding period last fiscal. The consolidated profit after tax (PAT) stood at Rs138.51 crore, while the consolidated profit before tax was recorded at Rs 225.62 crore. Operating profit before exceptional item for the year stood at Rs 556.53 crore as compared to Rs 561.79 crore during the previous year.

“With the new government at the Centre, we are hopeful that the stagnating economy will get a new direction which will also give the infrastructure sector the necessary boost. With 25 years’ experience in the sector, even though the economy has been experiencing a slowdown, we are in a state of preparedness to grow our business and enhance shareholder value as soon as we see the first sign of growth. However, the year under review was stressful for the infrastructure sector and our focus has been on managing our portfolio while mitigating risks. We also expect to divest some of our investments in the near future with the outlook becoming better,” Hemant Kanoria, chairman and managing director, Srei Infrastructure Finance Limited, said.

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