Srei Intl Net Up 15% At Rs 9.45 Cr

Srei International Finance recorded a 15 per cent increase in net profit for 1999-2000 at Rs 9.45 crore from Rs 8.20 crore in the previous year.

Total income of the company jumped from Rs 99.86 crore to Rs 148.73 crore, a 49 per cent rise.

The disbursement of the company looked up from Rs 160 crore to Rs 250 crore during the period.

The total asset base of the company stood at Rs 601 crore at the end of the last fiscal.

Addressing a press conference yesterday, Srei managing director Hemant Kanoria said, "We are focusing on reduction of cost of funds by way of which we can increase our profits. The cost of funds till last year is 14.5 per cent and the aim is to bring it down to 12 per cent."

 

While construction equipment accounts for 80 per cent of its business, 12 per cent is for infrastructure projects and 8 per cent for auto finance.

It has recently finalised the financing of a 20-mw power plant in Andamans at Port Blair and a bridge in Maharashtra.