Srei net zooms 290 pc to Rs 67 crore

Srei Infrastructure Finance today reported a consolidated net profit of Rs 67.21 crore in the December quarter, up 290 per cent from Rs 17.16 crore in the corresponding quarter a year ago.
Consolidated assets under management stood at Rs 37,505 crore as of December compared to Rs 36,949 crore a year earlier, while consolidated disbursements during the quarter rose to Rs 4,812 crore from Rs 3,414 crore, the company said in statement.
Company chairman Hemant Kanoria attributed the higher profitability to reduction in bad loans, higher disbursals, focus on margins and divestments of some of strategic investments.
He also said there was hardly any impact of the note ban on his business.

"For the last few years, we have been continuously reviewing our businesses and we have created a robust business model both in equipment financing and infra financing in such a manner that this can withstand any sudden changes," the chairman said.