Kolkata based infrastructure finance company Srei Infrastructure Finance (SIFL) Friday said its consolidated net loss for the quarter ended Dec 31 dipped sharply by 49 percent to Rs.23.59 crore against Rs.46.30 crore in the corresponding timeperiod last fiscal.
Total income of the firm for the quarter under review was pegged at Rs.828.83 crore which is a rise of 3 percent compared to its earnings of Rs.806.65 crore in the same timeframe in 2013.
The company said stress on the infrastructure sector is continuing, resulting in the loss it underwent.
"We feel that as soon as the infrastructure sector recovers, we will see much better results," the company's managing director Hemant Kanoria said in a statement.
Assets under the firm grew by two percent during the financial quarter at Rs.35,305 crore compared to the standing at Rs.34,453 crore in the corresponding timeframe last year.
Consolidated net profits of the firm dipped by 16 percent compared to its performance in the June-September period last year when it stood at Rs.28.07 crore.
Accumulated net loss of the company since April-December last year stood at Rs.115.64 crore which is a decline of 14 percent compared to last fiscal's performance.
