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Srei reports consolidated PAT of Rs76.32 crore during Q1FY18 versus Rs51.57 crore during Q1FY17

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Srei Infrastructure Finance Limited ("Srei"), one of India's largest holistic infrastructure institutions, has reported a consolidated profit after tax ("PAT") of Rs76.32 crore during the quarter ended June 30, 2017 as compared to Rs51.57 crore during the corresponding quarter of last year.

The standalone PAT was at Rs 28.59 crore during the first three months of this financial year as compared to Rs26.09 crore in the corresponding period of last year.

Srei Equipment Finance Limited PAT increased by 53% to Rs. 49.05 crore during the first quarter of this  financial year from Rs. 32.03 crore in the corresponding period of last year.

Consolidated assets under management ("AUM") stood at Rs 39,296 crore as on June 30, 2017 compared to Rs35,478 crore a year earlier. The consolidated disbursements during the quarter ended June 30, 2017 was Rs 4,406 crore as compared to Rs3,792 crore recorded in the corresponding quarter of last year.

Commenting on the results, Hemant Kanoria, Chairman and Managing Director, Srei, said: "We have begun the new financial year with renewed optimism. It has been yet another quarter of all-round growth across our businesses. The equipment finance business has witnessed good growth on the back of improved business confidence in sectors like road, irrigation and mining. Our asset quality continues to improve and reflects our deep relationships with customers, whom we have been supporting even during unfavourable macro-economic environment.

We believe that the road sector will be the primary growth engine for the infrastructure industry for a few more quarters. We will continue to leverage our leadership position, wide network and strong relationships to explore opportunities in the infrastructure space, which will be value accretive for all our stakeholders."

 

Consolidated financials at a glance:

 

 

Quarter Ended

 

In Rs Crore

Particulars

30.06.2017

30.06.2016

Growth %

AUM

39,296

35,478

11

Disbursements

4,406

3,792

16

Total Income

1,191.32

1,114.13

7

PBT

116.83

71.56

63

PAT

76.32

51.57

48

Srei's Businesses:

 

Srei Infrastructure Project Finance Businessrecorded a disbursement of Rs 467 crore during the quarter ended June 30, 2017. The portfolio size stood at Rs12,209 crore as on June 30, 2017 as compared to Rs 12,407crore a year earlier. The Project Finance team made disbursements to diverse set of infrastructure sectors while continuing to focus on infrastructure sub-sectors like renewable energy (wind and small-hydro), road, port, thermal power, hospitality, SEZs and industrial parks, etc.

Srei Equipment Finance Limited, industry leader in infrastructure and construction equipment financing, has disbursed Rs 3,939 crore during the quarter ended June 30, 2017 as compared to Rs 2,741 crore during the corresponding quarter of previous year; registering a growth of 44%. PBT grew by 62% to Rs 72.18 crore for the quarter ended June 30, 2017 as compared to Rs 44.54 crore for the quarter ended June 30, 2016; while PAT, grew by 53% to Rs 49.05 crore for the quarter ended June 30, 2017, compared to Rs 32.03 crore during the corresponding quarter of previous year. Gross NPA reduced from 2.74% as on June 30, 2016 to 2.29% as on June 30, 2017; while Net NPA reduced from 1.88% as at June 30, 2016 to 1.61% as on June 30, 2017. Total AUM stood at Rs 23,453 crore as on June 30, 2017 as compared to Rs 19,482 crore as on June 30, 2016, registering a growth of 20%.

 

Business | News published on 24 / 07 / 2017 by Rashmi Nargundkar

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