Srei Infra posts 32% fall in profit during Jul-Sep

Srei Infrastructure Finance Ltd has registered a 32 per cent fall in consolidated net profit for the quarter ended September 30, 2014, at Rs 28.07 crore.
The company had a net profit of Rs 41.24 crore in the similar July-September quarter of 2013-14.
"Total income has increased from Rs 818.01 crore for the quarter ended September 30, 2013 to Rs 833.05 crore for the quarter ended September 30, 2014," it said in a filing to the BSE.
Total consolidated asset under management increased to Rs 34,438 crore at the end of September 30, 2014, from Rs 34,349 crore at the end of September, 2013.

Consolidated disbursement during the quarter was Rs 3,377 crore as compared to Rs 2,401 crore in the corresponding period last fiscal.
On standalone basis, the company registered 91 per cent rise in net profit at Rs 21.21 crore for the second quarter of FY2014-15 against that of Rs 11.09 crore in the same period last year.

Its standalone income increased from Rs 450.14 crore for the quarter ended September 30, 2013, to Rs 471.36 crore for the quarter ended September 30, 2014.
"The government has been initiating appropriate steps to bring the infrastructure sector on track. However, it will take some time before the momentum picks up. The infrastructure developers and construction companies have still not seen amelioration of cash flows.

"We are hopeful that by the last quarter of this financial year or beginning of next financial year, the sector will see the much needed growth," said Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Ltd in a release.
Shares of the company closed 1.57 per cent lower at Rs 47 on the BSE today.