Srei Equipment Fin net up 29% to 65 cr in Oct-Mar FY'16

Srei Equipment Finance (SEFL) today said its net profit increased by 28.8 per cent to Rs 64.79 crore for half year ended March 2016.
Company had made a profit of Rs 50.31 crore during the corresponding October-March period of previous fiscal 2014-15.
Net income in the six months ended March of 2015-16 stood at Rs 1,318.34 crore, as against Rs 1,313.14 crore a year ago.
For the full fiscal 2015-16, company's net profit, however, was down by 24.7 per cent to Rs 115.26 crore, from Rs 153.02 crore in the previous fiscal.
Total full year income rose slightly at Rs 2,615.09 crore as against Rs 2609.78 crore, it said in a regulatory filing.

On asset front, company's gross non-performing assets (NPAs) or bad loans were 2.95 per cent of gross advances as of March 2016, down from 4.98 per cent year ago.
Net NPAs too softened at 1.99 per cent as against 3.83 per cent.
Promoted jointly by Srei Infrastructure Finance and BNP Paribas, SEFL provides financial products and services to companies operating in the construction, mining, technology and solutions, healthcare, ports and railways, oil and gas, agricultural and transportation sectors.