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Srei Infrastructure Finance has reported a consolidated net loss of Rs 3,810.93 crore in the third quarter of the current financial year on account of higher and accelerated provisioning.
It had reported a net profit of Rs 60 crore in the year ago period. During the quarter ended September, it had reported a net profit of Rs 4.72 crore.
The higher provisioning comes on the back of a special audit recently conducted by the Reserve Bank of India into the company and its subsidiary, Srei Equipment Finance.
Consolidated total income during the quarter ended December fell sharply to Rs 484.35
