Srei net profit rises 35 pc to Rs 145 crore in March quarter

Srei Infrastructure Finance Limited (Srei) Monday reported a rise of 35 per cent in its consolidated net profit to Rs 144.85 crore in fourth quarter of the fiscal ended March 2019.

The net profit during the corresponding quarter of the previous fiscal was Rs 107.36 crore.

Total income during the January-March period of 2018-19 was Rs 1,731.48 crore, up 17 per cent as against Rs 1,481.81 crore in the year-ago period, it said in a release.

In the entire 2018-19, Srei reported a rise of 29 per cent in its net profit at Rs 486.78 crore, as against Rs 377.29 crore in fiscal ended March 2018.

Income during the year was up by 20 per cent to Rs 6,469.70 crore from Rs 5,399.98 crore.

The company's asset under management were at Rs 47,070 crore as on March 31, 2019. It was at Rs 47,480 crore a year ago.

"In 2018-19, post the initial strong first half growth, in the second half the focus was to remain sufficiently liquid, maintain superior quality of assets and grow cautiously amid challenging macro-economic environment," said Hemant Kanoria, chairman, Srei.

He said the company would continue to strengthen existing client relationships, focus on co-lending arrangement with banks and aim at growth in the equipment finance sector.