Srei Infra posts net fall 38% at Rs 82 cr

Kolkata-based Srei Infrastructure Finance Limited reported a 38 per cent fall in net profit to Rs 82.08 crore on a consolidated basis for the year ended March 31, 2009 compared to Rs 131.94 crore at the end of the previous year.

Total income on a consolidated basis, however, grew 20 per cent to Rs 842.46 crore as against Rs 732.84 crore in the previous financial year.

On a standalone basis, net profit fell 53 per cent to Rs 50.36 crore for the year ended 31 March, 2009 compared to Rs 107.96 crore in the year-ago period.

Over the same period, total income fell 30 per cent to Rs 322.27 crore. The firm made no provisions for bad and doubtful debts in 2008-09 as against Rs 13.71 crore in the previous financial year.

 

Earnings per share for the year ended March 31, 2009 were Rs 4.34 compared to Rs 9.91 in the year-ago period.

The firm’s total expenditure fell 27 per cent to Rs 81.25 crore mainly on account of a 44 per cent reduction in employee costs to Rs 14.38 crore.