Srei Infra Finance Q4 Net down 94.5% to Rs 3.75 cr; income up

Srei Infrastructure Finance today reported a 94.5 per cent drop in net profit at Rs 3.75 crore in the fourth quarter of the last financial year.
Net profit of the infra financing company was at Rs 69.28 crore in the same period of previous fiscal.
Total income from operations increased around 8 per cent to Rs 841.57 crore during the January-March period.
For the whole fiscal (FY14), net profit fell by 47 per cent to Rs 138.51 crore against Rs 263.18 crore in FY'13.
Consolidated total income stood at Rs 3,260.30 crore during the year ended March 31, 2014, up from Rs 3,109.92 crore in FY13.

"The year under review was stressful for the infrastructure sector and our focus has been on managing our portfolio while mitigating risks. We expect to divest some of our investments in the near future with the outlook becoming better," Chairman and Managing Director of Srei Infrastructure Finance Hemant Kanoria said.
He said the Indian economy is likely to do better going forward which will give the infrastructure sector the necessary boost.