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Srei Infrastructure Finance PBT grows 47% in H1, FY13 to Rs.205 Crore

Posted On: 2012-11-09 21:40:23

Srei Infrastructure Finance Limited has recorded a 219% growth in its Consolidated Profit Before Tax during the quarter ended September 30, 2012 to Rs.158.07 crore as compared to Rs.49.53 crore same quarter last fiscal.

At the end of September, 2012, the total consolidated asset under management increased to Rs.32,505 crore from Rs.26,001 crore at the end of September, 2011, registering a growth of 25%. The consolidated total income for the quarter ended September 30, 2012 was Rs.788 crore as compared to Rs.588 crore in the corresponding period of the previous fiscal year, recording a growth of 34%. Consolidated disbursement during the quarter was Rs.2,347 crore as compared to Rs.4,401 crore in the corresponding period last fiscal. The consolidated profit after tax for the quarter stood at Rs.130.20 crore compared to Rs.24.60 crore, during the same period last fiscal registering a growth of 429%. The operating profit during quarter ended September 2012 was Rs.231.78 crore compared to Rs.112.67 crore during the same period last fiscal.

The consolidated total income for the half year ended September 30, 2012 was Rs.1,550 crore as compared to Rs.1,098 crore in the corresponding period of the previous fiscal year, recording a growth of 41%. Consolidated disbursement during the first half year this fiscal was Rs.6,064 crore as compared to Rs.8,392 crore in the corresponding period last fiscal. The consolidated profit before tax for the first half year this fiscal stood at Rs.205.23 crore compared to Rs.139.17 crore during the same period last fiscal, a growth of 47%.

Commenting on the Q2 results, Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Limited, said, "The Profit Before Tax for the second quarter and half year in FY 13 has shown a marked improvement in comparison to the earlier quarter. Our focus on the infrastructure sector and close client relationship has resulted in better performance. We believe that financial institutions operating in this space need to comprehend the operational hurdles while financing clients as the view necessarily, has to be long term. The biggest advantage with a rightly sculpted infrastructure project is that it will always pay back inspite of all hurdles. Our over two decades of experience has enabled us to identify the right projects to finance."

Source: Equity Bulls

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