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Srei Infrastructure Finance today said its consolidated net profit for the quarter ended December 31, 2013 was at Rs 46.30 crore compared to Rs 46.28 crore in the corresponding period of last year.
Total income from operations was up 3.8% from a year ago at Rs 800.84 crore during the three-month period.
"The performance of the infrastructure sector in India has been abysmal in the last couple of years. Though the revival of the power and road sector seems easy, practical and simple, it has been put into a complex governmental process. Financing of infrastructure projects at economical interest rates is an issue," Hemant Kanoria, chairman and managing director of Srei Infrastructure Finance, said in his post-earnings comments.
The consolidated disbursement during nine months ended December 31, 2013 was at Rs 9,463 crore compared to Rs 10,807 crore a year earlier.
"We are optimistic that these problems will be addressed, sooner than later. But, till the time it happens, there will be stress on the financials of all the infrastructure players. Srei, being a large player in this sector, has also seen lower profit margins, but we are hopeful of seeing a quick recovery with the anticipated pick-up in the economy," Kanoria said.
